By: Mercedes Pliego
New York University’s faculty senate voted Thursday afternoon to recommend that the university “divest” and strip its $3.5 billion endowment of investments of major fossil fuel stocks in order to make a statement about the dangers of global warming.
If the university’s Board of Trustees signs off, NYU will join more than a dozen universities across the country — from Stanford to Syracuse — that have responded to pressure from environmental activists and promised to reduce or end their fossil fuel investments.
Some universities, such as Harvard, see divestment as hypocritical because nearly everything students use – from plastic bottles to air conditioning and computers – are the products of fossil fuels.
The NYU faculty vote came despite a recommendation by an NYU faculty working group studying the issue not to divest for financial reasons.