Princeton U. Announces “Dissociation” from Fossil Energy

Princeton University's endowment, the fourth largest in the U.S., is bowing to cancel culture and is going to divest any holdings it has in some (but not all) fossil energy companies, including Exxon Mobil and Suncor Energy. Princeton is in good company with other Ivy League dunces, including Cornell University (see Cornell U Capitulates to the Crazies; Divesting from Fossil Fuels). However, Princeton may want to speak with their counterparts at Yale University. Yale began down the road of divestment from fossil energy companies, then pulled back earlier this year (see Yale Reverses Divestment, Re-invests in M-U Driller Antero Resources). And Princeton may want to speak with the pension fund managers at the California Public Employees’ Retirement System (CalPERS), which has suffered devastating losses over the past decade after divesting from fossil energy companies (see Dark Side of ESG – Huge Losses for Investors, High/Regressive Taxes).

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