OUR PROGRESS
In September 2022, Princeton University announced it would divest its endowment from publicly traded fossil fuel companies, a historic achievement for activists who have been working for years to convince the University to divest. Here are the key moments that have gotten us to this point:
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On February 13, 2020, Divest Princeton submitted a proposal to the Council of the Princeton University Community (CPUC) Resources Committee requesting that the University divest its $26 billion endowment (now $37 billion) from all fossil fuel companies and related interests. Learn more about the process here.
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Divest Princeton collects signatures for the Open Letter and endorsements of its campaign from thousands in the Princeton community.
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On May 10, 2021 the Resources Committee issued its recommendations.
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On May 27,2021 the Board of Trustees issued a statement about the possibility of partial divestment and dissociation.
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On September 20, 2021 President Eisgruber announced the creation of a Faculty Panel on Dissociation Metrics, Principles, and Standards and an Administrative Committee who would further study the question of divestment and dissociation. Neither Divest Princeton nor current students were invited to be part of either body.​ In December, 2021 a feedback form was added to the University Dissociation webpage.
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On February 16th, 2022, Divest Princeton filed a legal complaint with the New Jersey Attorney General, urging them to compel Princeton University to fully divest from fossil fuels.
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On March 21st, 2022 the University published an Overview of Fossil Fuel Investment Policies of Peer Institutions
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At the CPUC meeting on March 21st, 2022 the Administrative Committee made a presentation detailing previously unreleased information about Princeton's interactions with fossil fuel companies and investments in the industry: key slides
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On April 18, 2022 160 Princeton faculty and staff signed a petition calling for immediate and full divestment
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On June 2nd, 2022 the report of the Faculty Panel was made public. ​On July 15th, 2022 Divest Princeton published its response.
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On September 29th, 2022, Princeton announced divestment from publicly traded fossil fuel companies and dissociation from 90 companies. Divest Princeton was not mentioned in the statement. Divest Princeton released a press release later that day. ​Princeton's $700 million of private equity fossil fuel investments were not affected by the decisions and companies like BP and Shell continue to sponsor energy research on campus. Fossil fuel companies including Exxon are also still recruiting on campus.
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One year later, Divest Princeton demands action and accountability from the Trustees and President Eisgruber in an Open Letter.
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February 2024 - Princeton completes endowment divestment of publicly traded oil and gas stocks; updates list of companies subject to fossil fuel dissociation to readmit TotalEnergies
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October 2024 - Princeton walks back their dissociation policy
Companies subject to dissociation - September 2022
* Indicates the University has existing or recent relationships that involve a financial component with this company. Source: University website for September 2022 from the WayBack Machine
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Adaro Energy Indonesia Tbk PT*
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AES Corp.
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Agritrade Resources Ltd.
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ALLETE, Inc.
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Alliant Energy Corp.
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Anyuan Coal Industry Group Co. Ltd.
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Arch Resources Inc.
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Banpu PCL
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Bathurst Resources Ltd.
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Beijing Energy Holding Co. Ltd.
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Beijing Haohua Energy Resources Co. Ltd.
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BlackGold Natural Resources Ltd.
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Canadian Natural Resources Ltd.*
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Cenovus Energy, Inc.
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China Coal Energy Co. Ltd.
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China Energy Investment Corp.
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China National Coal Group Corp.
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China Pingmei Shenma Group
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China Qinfa Group Ltd.
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China Shenhua Energy Co. Ltd.
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CLP Holdings Ltd.
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Coal India Ltd.
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CONSOL Energy, Inc.
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DMCI Holdings, Inc.
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Dominion Energy, Inc.
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Enea SA
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Exxaro Resources Ltd.
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Exxon Mobil Corp.*
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Geo Energy Resources Ltd.
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Glencore PLC
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Golden Energy & Resources Ltd.
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Guanghui Energy Co. Ltd.*
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Gujarat Mineral Development Corp. Ltd.
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Hallador Energy Co.
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Henan Dayou Energy Co. Ltd.
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Henan Energy and Chemical Industry Group Co. Ltd.
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Huayang New Material Technology Group Co. Ltd.
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Idemitsu Kosan Co. Ltd.
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Ikwezi Mining Ltd.
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Imperial Oil Ltd.
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Inner Mongolia Yitai Coal Co. Ltd.
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Intra Energy Corp. Ltd.
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Jinneng Holding Shanxi Coal Industry Co. Ltd.
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Jizhong Energy Group Co. Ltd.
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Jizhong Energy Resources Co. Ltd.
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Kinetic Development Group Ltd.
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Kuzbasskaya Toplivnaya Co. JSC
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Lubelski Wegiel Bogdanka SA
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Mechel PJSC (Mechel PAO)
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Mercator Ltd.
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Mitsui Matsushima Holdings Co. Ltd.
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Mongolia Energy Corp. Ltd.
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NACCO Industries Inc.
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New Hope Corp. Ltd.
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NRG Energy, Inc.*
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Nui Beo Coal JSC
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Oxbow Carbon LLC*
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Peabody Energy Corp.
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Pingdingshan Tianan Coal Mining Co. Ltd.
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PT Sinar Mas
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Refex Industries Ltd.
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Reliance Infrastructure Ltd.
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Reliance Power Ltd.
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Semirara Mining & Power Corp.
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Shaanxi Coal and Chemical Industry Group Co. Ltd.
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Shaanxi Coal Industry Co. Ltd.
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Shandong Energy Group Co. Ltd.
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Shanghai Datun Energy Resources Co. Ltd.
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Shanxi Coal Import & Export Group Co. Ltd.
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Shanxi Coal International Energy Group Co. Ltd.
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Shanxi Coking Coal Group Co. Ltd.
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Shanxi HuaYang Group New Energy Co. Ltd.
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Shanxi Lanhua Sci-Tech Venture Co. Ltd.
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Shanxi Lu’an Environmental Energy Development Co. Ltd.
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Shanxi Lu’an Mining Industry (Group) Co. Ltd.
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Shumba Energy Ltd.
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SouthGobi Resources Ltd.
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Suncor Energy, Inc.*
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Sundiro Holding Co. Ltd.
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Syncrude Canada Ltd.*
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Tata Power Co. Ltd.
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TBS Energi Utama Tbk PT
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TerraCom Ltd.
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Thoroughbred Resources LP*
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TotalEnergies SE*
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Tri-State Generation and Transmission, Inc.
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Vietnam Nat. Coal Mineral Holding Ind. Corp.
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Westmore Mining Holdings, LLC
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Whitehaven Coal Ltd.
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Xcel Energy, Inc.
Companies subject to dissociation - February 2024
Source: University website for February 2024 from the WayBack Machine
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The vast majority of these companies have no prior financial relationship with the University and would be highly unlikely candidates for any association. For clarity, therefore, we are only listing below the dissociated companies with which the University has a current or recent relationship that involved a financial component.
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Eight companies have been removed from the dissociation list because they no longer meet the criteria: Bathurst Resources, Intra Energy Corp, Mercator Ltd, Mongolia Energy Corp Ltd, Oxbow Carbon LLC, Refex Industries Ltd, Thoroughbred Resources LP and TotalEnergies SE.
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Princeton University will not invest in, or engage in a financial relationship with, the following companies. The below list includes only companies that meet the dissociation criteria and with which the University has had a relationship in the recent past.
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Alabama Power Co
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Aluminum Corporation of China Ltd
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Arizona Public Service Co
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BHP Group Ltd
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Canadian Natural Resources Ltd (CNRL)
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Chubu Electric Power Co Inc
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CITIC Ltd
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ConocoPhillips
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Exxon Mobil Corporation
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Guanghui Energy Co Ltd
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Henan Shenhuo Coal & Power Co Ltd
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Idemitsu Kosan Co Ltd
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Indiana Michigan Power Co
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Louisville Gas & Electric Co
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Northern States Power Co
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NRG Energy Inc
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NTPC Ltd
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PGE SA (Polska Grupa Energetyczna SA)
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PPL Corp
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Progress Energy Inc
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PT Adaro Energy Indonesia Tbk
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Shandong Lutai Holding Group Co Ltd
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Sumitomo Corp
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Suncor Energy Inc
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Syncrude
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The Southern Co.
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Tokyo Electric Power Co Inc
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Vistra Corp
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Wanhua Chemical Group Co Ltd
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Companies subject to dissociation - October 2024
Source: current University website
As of January 2024, Princeton has dissociated from 29 companies with which it had recent financial relationships. Going forward, the University will no longer publish the names of companies that meet the dissociation criteria and with which Princeton has had a relationship in the recent past. Princeton will continue to publish the dissociation criteria and the data sources, the Global Oil & Gas Exit List(Link is external) and the Global Coal Exit List(Link is external), remain available. The University’s annual sponsored research report(Link is external) lists all corporate entities that fund research grants at Princeton.
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