12th Ave’s Seattle University announced it has divested from fossil fuel marking a first for Washington State.
The school is also reportedly the first Jesuit school in the nation to end its fossil fuel investment holdings.
“Though the university is at the end of the five-year divestment process, it is just one part of Seattle University’s ongoing efforts toward building a sustainable community that supports human and ecological health, social justice and economic well-being through Socially Responsible Investing,” the school said in a statement.
Seattle University estimated about 7% of its $230 million endowment included holdings in fossil fuel companies when launched its divestment plan.
Other major Seattle schools will follow. The University of Washington has set a goal of 2027 for its divestment.
The achievement at Seattle U comes three years after Eduardo Peñalver took over as president of the university, replacing Father Stephen Sundborg at the private Jesuit school serving around 7,000 students from its campus on the south end of Capitol Hill.
The campus has continued to grow including the new Jim and Janet Sinegal Center for Science and Innovation that now rises above 12th Ave.
By 2028, the school had planned to expand its boundaries by 2.4 acres with 2 million square feet added to the campus in new development.
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Would be interesting to understand how they did that, and what funds they switched to that excluded fossil fuels.
They are making a mistake. But, I’m happy to buy what they throw in the trash.
I’m glad I haven’t made any alumni donations to SU. Clearly they wouldn’t have treated my money with care.