The ESG Initiative at the Wharton School
Challenges to fossil fuel divestment at Penn, explained
Outlet: The Daily Pennsylvanian
Vit Henisz on whether divestment from fossil fuel companies will have the environmental or economic impact advocates hope for.
For nearly a decade, students at Penn have demanded that the administration divest from fossil fuels.
In November 2021, the University pledged to achieve a net-zero greenhouse gas emissions, mainly through terminating emissions associated with the endowment’s underlying investments. However, Penn has not committed to divest from fossil fuels, though student groups on campus have repeatedly spoken out against the University’s climate policy for falling short of divestment.