Divestiture is nothing but a distraction | Ensia.
As a college president and chemist, I have worked throughout my career in areas connected to climate change. As an educator, I have written chemistry textbooks and regularly teach courses in which the most urgent issue is climate change. As a president, I frequently face decisions about investments in sustainable practices, whether green buildings (our most recent construction has been certified LEED platinum) or reductions in water and energy use, or curricular changes in support of our strong environmental-analysis major.
And yet on the topic of divestment of stock in companies that produce and market carbon-based fuels — an issue that is gaining attention on college campuses and in the news media — I am a profound skeptic. Why? Because we have passed the point for symbolic actions and need to take real steps to achieve change. Feel-good measures that have no effect on actual greenhouse-gas production are a diversion from the critical actions we must take before it is too late.
Many of those involved in the divestment movement say quite candidly that they do not expect divestment (even by major universities with much larger endowments than our own, and recently by our Claremont Colleges neighbor Pitzer College) to have an effect on the policies of the companies involved, but that this is one way of getting attention for the issue, to get on the front page of The New York Times.
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