Doing Better Than Divestment

Abstract

In the next several years we will see an increasing number of divestment campaigns spring up among student bodies nationwide. Given this trend, I believe it would be helpful to those interested in divestment at U.Va and other institutions to first examine the discussion that has followed the campaign so far. What is divestment? Is it well argued? Does it make economic sense? Should we divest? If so, what steps should we take? Frequent campaign failures indicate that the divestment argument needs some reworking. The ultimate objectives of this paper are 1) a new argument that elucidates more compelling incentives for U.Va to take action against fossil fuels and 2) a financially responsible reinvestment strategy that reflects the greater values of our university.