A SUNY New Paltz Board Votes To Divest From Fossil Fuel Companies
The State University of New York at New Paltz Foundation Board has voted to divest from fossil fuel companies.
SUNY New Paltz officials say the initial request came from a group of students who raised the issue with college President Donald Christian in September 2016. Christian suggested the students involve faculty governance in the discussion through the Sustainability Committee. He also committed to bring the issue to the Foundation Board’s Finance and Investment Committee, encouraging the Board to support divestment while safeguarding endowment funds. The school’s foundation endowment currently stands at about $20 million, with data showing that as of June 30, some 4.5 percent, or $920,055, was directly invested in fossil fuel companies.