Justice will not be stifled. Read our response to the Trustees' 2016 decision.

Are you a faculty member? Sign the Faculty Letter here: fossilfreepenn.org/faculty
Are you a Penn alum? Sign our Alumni Petition here: fossilfreepenn.org/alumni

Read the official proposal here: fossilfreepenn.org/2015-divestment-proposal
The University of Pennsylvania should:

1. Stop new investments in the fossil fuel industry.

2. Remove direct and commingled holdings in the top 200 fossil fuel companies within 5 years.

3. Reinvest a portion of the extricated funds into clean energy assets.
Top 200 fossil fuel companies
are publicly listed companies possessing the largest fossil fuel (coal, oil, natural gas) reserves in terms of potential carbon emissions (Gt CO2 potential). The ranking is formed by the top 100 for coal and the top 100 for oil and gas, as identified by The Carbon Tracker Initiative (13-14) and updated by Fossil Free Indexes, LLC.
"An ounce of prevention is worth a pound of cure." - Benjamin Franklin
Current State of Penn's Endowment
  • As of June 30, 2014, Penn’s endowment is $9.58 billion.
  • Of the investment holdings, 37.9% is in public equities, 12.0% is in fixed income, and 3.1% is directly in “natural resources” (in terms of fair value) - any of this 53% may be in fossil fuels. 
  • Penn declines to disclose the exact composition of its holdings.
  • The fossil fuel sector is weighted (by market capitalization) in the US, international, and emerging equities markets at 7.64%, 7.07%, and 8.78%, respectively.
  • Using these market portfolios as estimates, Penn holds about $315 million in fossil fuel assets in equities alone, or roughly 4% of the total endowment. Even more may be in bonds or the “natural resources” category.
Composition of Penn's Investment Holdings (June 30, 2014)
Sources:
Banner picture: Oil contamination from one of hundreds of oil waste pits left by Texaco (merged by Chevron) in the Amazon in Ecuador.
Source: http://indiancountrytodaymedianetwork.com/2011/02/18/ecuadorian-judge-finds-chevron-guilty-polluting-amazon-region-18258