Pitzer College, San Francisco State and two community college districts in Northern California are among about a dozen schools nationwide that are divesting out of concern that the burning of fossil fuels is damaging the environment and causing climate change.
Signaling the end of a chapter when financial risk was rife, General Electric has announced it's selling off the bulk of GE Capital, divesting out of the financial-services market within the next two years.
They will not divest out of enlightened consideration.
The Guardian's editor-in-chief Alan Rusbridger said: "I'm really delighted that GMG, having independently considered all the evidence, has decided to divest out of fossil fuels.
Next, by November over $3.4 trillion of assets had committed to divest out of fossil-fuels and invest in a new economy, supported by a diversity of voices from Christiana Figueres, HRH Prince of Wales, Leonardo Di Caprio, Desmond Tutu, Mark Carney and the Hip Hop Hope Caucus.
Strip away the financial montages, and they are in essence buying firms from themselves, with hefty transaction costs, including a 20% cut of the profit (if any) to the managers of the divesting fund.Buy-out executives point to a host of profitable secondaries, as well as to studies that show that such deals are no less lucrative than other takeovers.
"Everyone they put on the stage who talked about education talked about opting out, divesting from it," she said.
"They are divesting and will be out by September.
It has now divested and ruled out future investments in any company that makes more than 10% of its revenues from thermal coal – used for electricity generation – and oil from the tar sands.
As we pointed out last week, Walmart divesting its stake in Asda in the UK to Sainsbury's would pave the way for the company to make a bigger move in India, and that seems to be what has happened here.
It has divested itself of out-of-date buildings that were no longer fit for purpose - or simply not part of a coherent campus vision - and relocated more than 10,000 staff and students to brand new facilities for science, art, design and media, sport, catering and social space.
