In late February, the State University of New York Cortland Faculty Senate, which represents instructors at the Southern Tier school, unanimously passed a resolution urging its pension fund manager, Teachers Insurance and Annuity Association, to divest from fossil fuel companies. “Whereas, the Teachers Insurance and Annuity Association of America-College Retirement Equities Fund (TIAA) has $8 billion invested in industries promoting fossil fuel production, distribution and consumption,” reads the resolution, “…Therefore be it resolved, that the SUNY Cortland faculty urges the SUNY Board of Trustees to support and advocate for the divestment of TIAA funds from all fossil fuel holdings….”
In doing so, the SUNY Cortland Faculty Senate became the latest institution to join TIAA Divest, a campaign demanding that TIAA cease investing in fossil fuel projects, businesses involved in deforestation, and other enterprises accelerating climate change. TIAA has thus far refused to take action, but environmentalists hope that the growing pressure from clients like SUNY faculty will force its hand.
Author(s): Arvind Dilawar
Publication Date: 16 March 2021
Publication Site: The River