Goddard College divested its endowment holdings in fossil fuel companies, the college announced this month, making it Vermont’s third educational institution to divest from the industry.
At least 14 other colleges and universities have divested, including Sterling College and Green Mountain College, in an effort to pull financial capital away from the fossil fuel industry.
Goddard College had $1 million of its endowment invested in the fossil fuel industry. Those investments are now being managed by Boston-based investment management firm, Trillium Asset Management.
Interim President Robert Kenny said the college’s recent efforts to reduce its carbon footprint have led to a number of energy-saving activities, including a proposal to convert the college’s 20 oil-burning heating furnaces to a single wood chip plant.
“This divestment is a logical extension of those efforts, and we are proud to finalize its implementation,” he said.
