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Review of Proposal to Divest from Fossil Fuels

The Johns Hopkins University board of trustees reconvened the Public Interest Investment Advisory Committee (PIIAC) in 2014 after adopting a revised statement on investment responsibility regarding separately invested endowment funds. The PIIAC, comprising students, faculty, and staff from across Johns Hopkins University, is charged with accepting and analyzing proposals from any member of the JHU community with serious social concerns related to these funds. If appropriate, the PIIAC then makes recommendations to the board of trustees regarding the proposals.

In December 2015, the PIIAC received a proposal from the student group Refuel Our Future calling on the university to divest its endowment from fossil fuel companies. After researching and analyzing the questions raised, the PIIAC submitted its recommendations in September 2017. The recommendations were also published online to collect feedback from the university community.

The proposal from Refuel Our Future, the PIIAC’s report, and the community feedback were shared with a subcommittee of the board of trustees’ Committee on Investments. In line with the PIIAC’s governing guidelines, members of the PIIAC also consulted with this subcommittee regarding its report.

Following months of deliberations, the board of trustees voted in December 2017 to direct the university to divest its separately managed holdings from companies that produce coal for electric power as a major part of their business.

Please click here to read the complete response from the Committee on Investments to members of the PIIAC, which provides additional details and analysis about the board’s decision.