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Panel Says WMU Doesn't Invest Much in Fossil Fuel

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Western Michigan University invests very little of its money in fossil fuel companies. That’s the finding of a panel that has studied the environmental impact of the university’s investments.

The committee's report was one of several items the Board of Trustees considered on Thursday.

The panel says that while the university owns no stock in fossil fuel companies, a small amount of the cash the university puts in investment funds does go to unsustainable energy. But faculty member Tom Edmonds, who serves on the panel, says it found the amount was less than one percent of Western’s operating cash.

"And I would suggest it’s probably far less than that today because two of the major coal companies in the country are in chapter 11 bankruptcy. Any fund manager who still has coal stock is probably unemployed today," Edmonds says.

Edmonds says the university could invest some of its working capital in investment funds that would reduce its fossil fuel interests even more. The Board of Trustees heard the recommendations at its meeting on Thursday but has not acted on them yet.

Other items on the Board's agenda April 21:

- Western has set residence hall rates for the next academic year. In 2016-2017 a student living in one of Western’s “traditional” dorms will pay a bit more than $9000 a year for housing. That’s with a 15-meal plan. Students living in the Western Heights residence hall will pay a bit more than $10,000 a year. For both kinds of residence, that’s a three-and-a-half percent cost increase from the current academic year. The price goes up or down a bit depending on the meal plan.

- Western Michigan University plans to move its surplus sales operations to downtown Kalamazoo. The Board voted today (Thursday) to buy properties at 635, 640 and 642 West Ransom Street. Western says its current surplus sales building near the College of Health and Human Services is in bad shape. It also says the volume of materials it processes has increased, especially in electronics. The purchase will cost the university about a quarter of a million dollars.

- The Board has approved a lease that will expand Western Michigan University’s presence in Florida. Western plans to rent a suite from Florida SouthWestern State College in Punta Gorda, which is northwest of Fort Myers. The lease is part of a plan to increase Western’s offerings in states outside of Michigan. Western says it will hold in-person and “hybrid” classes, graduate and undergraduate, at its Florida location.

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Sehvilla Mann joined WMUK’s news team in 2014 as a reporter on the local government and education beats. She covered those topics and more in eight years of reporting for the Station, before becoming news director in 2022.
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