Wharton School professor Eric Orts told the DP that the proposal’s focus on divestment was disappointing. Though investment transparency and board disclosure are important, divestment is “a small part” of a university’s role in the climate crisis, Orts said. He added that there are no certainties regarding either the climate or sustainable investment returns.
“It’s not guaranteed that you can be green and make money at the same time,” Orts said.
Orts also said that this proposal may cater more to American colleges and universities “that have not … made that kind of commitment” to divesting from fossil fuels, and that Penn has mostly fulfilled the demands outlined in the proposal.
He referenced the climate priorities in former Penn President Liz Magill’s “In Principle and Practice” strategic framework, which calls on the Penn community to ”do more” in an “all-out University effort” to combat the climate crisis.
Orts also mentioned Interim Penn President Larry Jameson’s recent announcement of a new vice provost for climate science, policy, and action, a move that indicates to Orts how “[the Penn community] really ha[s] an opportunity to incubate” beyond questions of divestment.
