Citing Catholic social teachings, the University of Dayton announced today that it will divest its $670M endowment from fossil fuels.
University of Dayton President, Daniel J. Curran said, “We cannot ignore the negative consequences of climate change, which disproportionately impact the world’s most vulnerable people. Our Marianist values of leadership and service to humanity call upon us to act on these principles and serve as a catalyst for civil discussion and positive change that benefits our planet.”
“Rev. Martin Solma, S.M., provincial for the Marianist Province of the U.S. and a member of the board’s investment committee, believes the trustees can be both environmentally and financially conscious.”
” ‘We believe it is possible and necessary to be both responsible stewards of our planet and fiduciaries,” Solma said. “The tremendous moral imperative to act in accordance with our mission far outweighed any other considerations for divestment.’ ”
Regarding university finances, “Trustees and consultants working with the University are confident this investment strategy will not have a significant negative financial impact on the University.”