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Board of Managers decide not to divest

in Around Campus/Around Campus/Around Higher Education/Breaking News/News by

Following two days of meetings and deliberations, the Board of Managers announced that they have reached consensus against divestment from fossil fuels, according to an email sent by Chair of the Board, Gil Kemp, just after 4:00 this afternoon.

Kemp cited the Investment Committee’s investment guidelines – established in 1991 after the college divested from apartheid South Africa – which state that the endowment is intended to preserve the robust endowment of the college well into the future, rather than make a social or political statement.

This decision comes despite the 44-2 decision of the faculty in favor of partial divestment as well as the month-long sit-in led by Mountain Justice outside of the office of Greg Brown, Vice President of Finance and Administration at the college, which ended in late April.

The Phoenix is published every Thursday by students of Swarthmore College, except during examination and vacation periods. 1200 copies are distributed each week across the college campus, to the Borough of Swarthmore and to subscribers. The Phoenix is free of charge to Swarthmore students and faculty, limited to one copy per reader.

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