Pitzer College has announced it will divest its $125 million endowment of financial holdings in fossil fuel companies by the end of the year. The move makes Pitzer the first college in Southern California to commit to climate divestment, and the largest endowment in higher education to do so to date.
Divestment from fossil fuel companies is the goal of a network of activists who argue that profiting from or supporting industries that contribute heavily to climate change is morally wrong.
Pitzer president Laura Skandera Trombley issued an invitation to other schools in announcing the plan. “Come join the party,” she said. “It’s so much fun to do the right thing.”