A panel of trustees at the University unanimously rejected a proposal for fossil-fuel divestment at their meeting Dec. 18.
This action puts an end to official consideration of a recommendation that the University’s endowment fund eliminates its holdings in companies that deal with fossil fuels such as coal and oil, which are widely regarded, according to an article in the Burlington Free Press.
“In time, it is conceivable that UVM can and undoubtedly should divest from fossil fuel; however, their decision not to at this time comes as no surprise,” first-year and Environmental Science major Tyler Davis said.
“At least UVM is using fossil fuels in as effective a manner as possible and making efforts to improve building efficiency, both of which are currently more feasible than divesting,” Davis added.
“To my knowledge, there is yet to be a reliable and financially viable renewable energy source that would allow our university to fully divest from fossil fuels,” Davis said.
Sophomore Rachel Rhodes agrees with the University’s decision.