financial services

Brown still studying divestment

Posted 6/4/13

PROVIDENCE – Brown University will continue to study the issue of divesting its holdings in at least 15 companies that mine or burn coal for the production of power, according to a May 24 statement from university President Christina Paxson. The statement was released after a meeting of the Corporation of Brown University.

The discussion on divestiture was in response to a recommendation by the university’s Advisory Committee on Corporate Responsibility in Investment Policies, or ACCRIP, made earlier this spring, to divest the coal holdings.

“The committee has spent significant time on the issue over the past several weeks, including discussions with faculty experts, the ACCRIP and student leaders from Brown Divest Coal,” said Paxson.

“We are grateful that the Brown Divest Coal campaign has underscored the significant role that the mining and burning of coal plays in climate change, and appreciate the work that ACCRIP and the ad hoc committee have devoted to the issue,” said Paxson. “We look forward to working with them and others to develop a thoughtful and comprehensive approach that is aligned with our mission of teaching, research and service.”

The university will further examine the issue before responding to the ACCRIP recommendations,” said Paxson.

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