GMC moving investments away from fossil fuel companiesMay 14,2013By Lucia Suarez
POULTNEY — Green Mountain College joins a growing movement of colleges and universities that are moving their investments away from fossil fuel companies.
Last Friday, the college's Board of Trustees approved to divest it's endowment from 200 publicly-trade companies which hold most of the world's known coal, oil and gas reserves. The decision, announced Tuesday, aligns the college with its strategic plan “Sustainability2020” that commits the college to socially responsible investments.
“We see this as another step in an ongoing effort to connect our investment decisions with our ideals,” said college President Paul Fonteyn, in a statement.
“Investing endowment funds on the basis of social, economic and environmental criteria is one of the ways Green Mountain College expresses its values.”
With this decision, GMC becomes the second higher education institution in Vermont to divest from fossil fuels. Earlier this year, the board of trustees at Sterling College in Craftsbury Commons voted to divest its endowment from fossil fuel companies.
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