Divesting from Fossil Fuels

Last month, Stanford University declared that it would cease using any of its $18.7 billion endowment to invest in coal mining companies, and apparently, a number of other large educational institutions are making similar divestments in the fossil fuels industry.

I doff my hat to the bold and brave administrators of these top universities, while noting that steps like these are more than symbolic.  To whatever degree, they drive up the cost of capital for companies operating in this arena, thus accelerating the process by which renewable energy is perceived for what it really is: the deal of the century.

As I’ve mentioned before, environmentalist Bill McKibben has been all over this divestment idea for some time.   I heartily recommend that you take Bill’s advice; pick up the phone and tell ‘em:  sell it all.  

Want another suggestion?  Take the proceeds and check out some of our clean energy investment opportunities.  I can’t promise you’ll profit (though I DO happen to like these ideas).  What I can promise is that you’ll be using your retirement money and taking steps to ensure we still have a hospitable planet here on which to retire.