The 2021 International Panel on Climate Change (IPCC) report has been called a “code red for humanity” because of its grave assessment of the world’s progress in fighting the climate crisis. A year later, Duke remains indirectly invested in the industries that science shows are responsible for that very crisis, all while maintaining that it wants to become “The Climate University'' and take the lead on climate action among universities worldwide. This is despite the fact that many of those universities (with prestige akin to Duke) have already divested.
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While the exact percentage is unknown, an estimated 1-2% of Duke’s $12.7 billion endowment consists of fossil fuel stocks. This potentially amounts to over $200 million of Duke’s money that is supporting the activities of an industry directly responsible for climate change. If Duke is truly serious about taking action on climate change, then it must divest its endowment immediately from fossil fuels and reinvest it in sustainable industries.
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Trillion Dollars
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Other institutions have already divested a total of $40 trillion from fossil fuels. By divesting, Duke would join these institutions and help to further deny fossil fuel companies a significant source of funding.
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