Penn State students voted yes to the University Park Undergraduate Association’s referendum question on divestment in the student government’s spring elections.
The question read:
“Penn State should (1) commit to divestment from its long-term holdings in fossil fuel asset classes as quickly as possible; (2) release information about its current holdings in fossil fuels; and (3) publicly comment on the proposed divestiture.”
The referendum evolved out of Resolution #56-15, which was introduced in a UPUA General Assembly meeting on March 18. It formally called on Penn State to halt all investment in potential fossil fuels holdings and sell any fossil fuels assets by the end of 2026.
It also called on Penn State to reinvest in renewable energies.
According to the resolution, 6% of Penn State’s long term investments are in “real assets,” which include things like coal, gas and oil.
Voters agreed with the assembly. Of the 3,249 ballots cast for the referendum , 2,961 said they agreed with the statement — 91% — which also calls on the university to make a public statement on divestment.
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