"Divestment is the opposite of an investment – it simply means getting rid of stocks, bonds, or investment funds that are unethical or morally ambiguous."





Current size: around $290 million

Our Investment Manager: Investure, LLC

Our current holdings in fossil fuels: $13,000,000 (4.4% of the endowment)

Our current holdings in coal: $400,000 (0.10% of the endowment)

Annual spending: No more than 5% of the endowment can be withdrawn every year. Endowment spending accounts for about 6% of the annual operating budget of the college.




We demand that Barnard College divest its endowment from fossil fuel companies. 

We define fossil fuel companies as companies for which the majority of their revenues come from the direct extraction, refinement, or sale and marketing of fossil fuels. Though many fossil fuel companies or energy companies do invest in renewable energy, almost all energy companies are predominantly profiting from fossil fuel or alternative energy.

We use the same classifications as Those classifications are known as the Morningstar Global Equity Classification Structure

Morningstar defines energy companies as companies "that produce or refine oil and gas, oil field services and equipment companies, and pipeline operators." However, our definition only includes Drilling, E&P, Integrated, and Refining & Marketing companies. At this time, our definition does not include Midstream, Services, or other related industries such as rail road, shipping, pipeline construction/operation, equipment manufacturers or utilities companies.

Morningstar Classification Breakdown:

Energy Oil & Gas – Drilling:  Companies primarily engaged in contract drilling and exploration for petroleum and natural gas, including offshore and onshore drilling as well as related oil well and contracting services.

Oil & Gas – E&P:  Energy companies which are primarily engaged in gas exploration and production.

Oil & Gas – Integrated:  Major energy companies engaged in the diverse aspects of oil and gas operations including crude oil & gas exploration, production, manufacturing, refining, marketing and transportation.

Oil & Gas – Midstream: Companies primarily engaged in owning and operating oilfield pipelines involving the gathering, processing and transportation of natural crude petroleum.

Oil & Gas – Refining & Marketing:  Companies primarily engaged in the refining, gathering, marketing and selling of petroleum and petroleum products.

Oil & Gas – Services: Companies primarily engaged in providing oilfield services and equipment such as contract drilling, seismic surveys, equipment and tool rental, pumping and processing services, inspection and contracting services.

It is necessary for Barnard College to divest their endowment from these companies to protect the future of both its students and the greater global community.