Don’t Divest
Recently Fossil Free MIT (FFMIT), an MIT student group, has circulated a petition, now with over 2000 signatures, urging the Institute to cease the investment of its endowment in fossil fuel companies. FFMIT is one chapter of Fossil Free, a multinational organization that advocates this position to facilitate broader divestment among institutions that serve the public good. Their ultimate goal is to influence legislation that would implement measures to limit global temperature increases to 2 degrees Celsius. While their aspirations are admirable, their strategy is unlikely to work, and their efforts would be better spent advocating clean energy in other ways. Worse, their misguided advocacy could have negative repercussions for MIT and others.