Oregon State to Divest in Fossil Fuels
Oregon State University has voted to divest itself from its fossil fuel stocks. It remains to be seen if Oregon’s other public universities will follow suit.
The OSU board of trustees made the decision last Friday. It came in the form of an amendment to the investment policy used by Oregon’s Public University Fund, which manages the funding of OSU and five other Oregon public universities. In the next 90 days the boards of the other Universities are expected to meet and vote on the issue. OSU spokesperson Steve Clark predicts a consensus will be met.
“If that is divestment it will proceed. If for some reason Oregon State is in the minority, the Public University fund will continue but as it relates to divestment in fossil fuel securities, we will communicate our interests.”
The OSU board of trustee’s decision does not apply to the OSU Foundation, which is a private entity that manages the University’s nearly 500 million dollar endowment. Clark says the board’s purpose is not to direct the foundation, though they have informed it of their decision.