The Independent Petroleum Association of America recently commissioned and funded a study, covered in the New York Times and elsewhere, which claimed that university endowments would suffer without fossil fuels in their portfolios. The Wall Street Journal ran an op-ed calling fossil fuel divestment a "Feel-Good Folly."
Let's look at the facts. The global indexing firm FTSE has developed several fossil fuel free indices, and has tracked performance over the past five years. Over this time period, FTSE's North American fossil fuel free index has consistently outperformed the conventional benchmark index.