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Universities unloading on fossil fuels: the legality of divesting

journal contribution
posted on 2023-05-18, 20:51 authored by Benjamin RichardsonBenjamin Richardson
Universities have become the major battleground of the global fossil fuels divestment movement led by student groups and staff. With their large endowment funds and high public visibility, universities have been targeted to divest and demonstrate their commitment to fighting climate change. The legality of divestment should be an important consideration for many universities, especially because of the financial ramifications of excluding fossil fuel companies from investment portfolios. The asserted rationales for divestment generally do not acknowledge the legal context, instead focusing on ethical, financial and tactical considerations. Divestment is likely to be lawful in a number of contexts, depending on how it is done and the reasons. But even where the law is on their side, divestment proponents have few legal options to challenge the investment decisions of university trustees.

History

Publication title

Carbon and Climate Law Review

Volume

10

Pagination

62-74

ISSN

1864-9904

Department/School

Institute for Marine and Antarctic Studies

Publisher

Lexxion Verlagsgesellschaft mbH

Place of publication

Germany

Rights statement

Copyright unknown

Repository Status

  • Restricted

Socio-economic Objectives

Expanding knowledge in law and legal studies

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