On February 3, members of Divest Princeton gathered under Blair Arch to advocate the University’s complete dissociation from fossil fuels.
Divest Princeton describes itself as a group of students, faculty, staff and alumni who demand that Princeton University “divest” its endowment from nonrenewable energy. The group also opposes the University’s acceptance of funding from nonrenewable energy companies toward research into carbon capture technology.
At the protest, about ten members of Divest Princeton hung a banner from Blair Arch reading “DIVEST: In The Service of the Nation.” They also handed out flyers, posters, and spoke to passers-by about their mission. Shortly thereafter, officers from the Department of Public Safety arrived, informing the protesting party that their demonstration was in violation of University rules, and officers asked them to take the banner down. The orders were complied with, and the protest resumed.
The demonstration comes in response to Princeton’s decision in September 2022 to partially divest the University endowment from nonrenewable energy. Despite this change by the University, Divest Princeton “[isn’t] leaving” and they hope you “join the fight.” During the demonstration, Divest Princeton members called for the University to divest fully from private fossil fuel companies, in which they claim Princeton currently has “$700 million still invested.”
Divest Princeton in particular advocates an end to Beyond Petroleum’s funding to support the Carbon Mitigation Initiative (CMI). The energy company Beyond Petroleum (BP), formerly known as British Petroleum before it changed its name to reflect its commitment to “reinvent the energy business,” supplies the CMI with most of its funding. One activist claimed that BP has a “climate misinformation agenda” and Princeton should not accept their funding for initiatives that seek to reverse the effects of burning fossil fuels.
Beyond Petroleum’s funding is critical to the CMI, which is one of the leading institutions on campus fighting climate change. According to Princeton’s High Meadows Environment Institute, “the mission of CMI is to lead the way to a compelling and sustainable solution to the carbon and climate change problem.” Some of the initiative’s research includes the implementation of innovative carbon capture hubs, evaluating the efficacy of US climate policy, and research into “the initial stages of nucleation and growth of secondary organic aerosol particles.”
With effective carbon capture technology, societies could potentially burn natural gas, oil, and coal while maintaining net-zero emissions. Divest Princeton members believe that the CMI’s research constitutes a sort of moral hazard that enables the continual usage of fossil fuels. As such, they argue, the CMI should not accept funding to invent better carbon capture technologies.
The broader agenda put forth by Divest Princeton is not without detractors. Some have expressed concern that the performance of the Princeton endowment is at stake and that Princeton could violate its fiduciary duty if it concedes to Divest Princeton’s demands.
Flyers distributed at the protest advertised a “Divest 101 Meeting” on Thursday, February 9th at Campus Club, held by Divest Princeton. The meeting appears to be open to all members of the campus community.
(photo courtesy of Instagram/pawprinceton)
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