Divestment and Investment: Strategic Financial Decisions in Higher Education to Promote Societal Change Toward Sustainability

Abstract

The aim of this paper is to review the increased use of strategic financial decisions in higher education to promote social change toward sustainability. The social movement to divest from fossil fuels has been growing rapidly, and universities are playing a critical role. New types of university investments to support sustainability transdisciplinary programs and initiatives are also enhancing the societal relevance of many universities. This chapter analyzes the language and themes used to defend university divestment decisions (among both organizations that are committed to divestment as well as organizations that are not committing to divestment) as well as justifications for new investments in sustainability initiatives. The diversity of institutional approaches to using strategic financial decisions to engage with social change represents divergent perspectives on the role of universities in promoting a more sustainable society.