Williams College has announced plans to limit its carbon footprint in an effort to battle climate change, but not divest from fossil fuels which students, alumni and staff called on the college to do.Williams is investing up to $50 million over the next five years in efficient buildings, renewable energy projects and climate change education aiming to achieve carbon neutrality by the end of 2020.
The move was spurred by 500 members of the Williams community calling on the college to divest its $2.3 billion endowment from the top 200 fossil fuel companies. President Adam Falk says full divestment requires restructuring how the endowment is invested costing tens of millions of dollars a year.
“Our judgment was that both symbolically and practically we could have a bigger effect by investing than by divesting…that was the direction we chose to go,” said Falk.
As of 2014, Williams has $8.3 million invested in fossil fuel related companies through account managers.
Click here to read the full statement from Williams College.
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