UNC Asheville becomes first in UNC system to divest from fossil fuels

ASHEVILLE – Never underestimate the power of a bunch of squeaky-wheeled students to get the grease, or in this case, to get rid of the grease, in the fight for a more environmentally and socially conscious campus, and world at large.

On June 21, the UNC Asheville Board of Trustees made state history by voting to divest a portion of its $50 million endowment from fossil fuels, becoming the first university in the UNC system to do so. The resolution is even more impressive, university officials said, because it was initiated and led by student action.

With the board’s vote, UNCA will shift about 10%, or $5 million, of its endowed funds to Walden Asset Management, a manager focused on investing using ESG, or environmental, social and governance, criteria and research and promoting shareholder advocacy.

The project is managed by UNCA’s vice chancellor for administration and finance John Pierce, director of sustainability Sonia Marcus, and associate vice chancellor for advancement operations Ben Underwood.

Read more: https://www.citizen-times.com/story/news/2019/06/22/unc-asheville-first-school-unc-system-divest-fossil-fuels/1524101001/
(Ashewille Citizen-Times)