From the College Fix:
Colleges that divest from fossil fuels would lose about two percent to 12 percent of their endowment value over a 20-year period — and that does not even include potential losses from a weakened portfolio — according to the “frictional costs of fossil fuel divestment” study by finance Professor Hendrik Bessembinder of Arizona State University.
“This translates to a reduction in the value of the weighted average large endowment after 20 years of between $1.4 billion and $7.4 billion. The equivalent reduction in value for the weighted average medium endowment is between $52 million and $298 million, and the equivalent reduction in value for the weighted average small endowment is between $17 million and $89 million,” the study states.
