The Rhode Island School of Design is the first university in the state to pledge to stop investing in fossil fuel companies.
Board Chairman Michael Spalter said the trustees studied the issue for two years after a student campaign. He said ultimately they felt it was the right move and voted unanimously for the change.
“In doing so, we looked at the economic considerations and the impact it would have, first and foremost, on our students and institution,” said Spalter. “We have set a target of divesting from our direct investments in fossil fuel extraction companies of 24 months.”
Spalter said RISD will roll out new sustainability initiatives in the fall to complement the policy on fossil fuel.
Two other Rhode Island institutions, Brown and the University of Rhode Island, have considered divesting from coal but decided against it.
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