Stanford University announced earlier this week that it will “no longer make direct investments in coal mining companies.” According to a report from the university, the recommendation came from Stanford's Advisory Panel on Investment Responsibility and Licensing.
The panel includes students, faculty, staff and alumni, and its findings were based an extensive reviews of the social and environmental implications of investment in fossil fuel companies, the report said.
The announcement has put pressure on other colleges and universities, particularly those with large endowments, to follow suit.
Students at Harvard, which has the largest endowment of any university, have already started to insist that the school follow Stanford’s lead.
Stanford has not yet divested from oil and gas companies, but students believe that this is a “great first step.”