In a series of investigative stories called The Paradise Papers, Southeast Portland’s Reed College is named as an investor in a secret Cayman Islands fossil fuels fund.
The investment product, with nine other school investors, comes through EnCap, a financial firm providing venture capital to oil and gas companies.
The reporting may spark new pressure on the college to consider social and environmental goals in its investment strategy.
Reed College’s student body has long been active in divestment movements, including a current sit-in since Oct. 23 in the president’s office and hallway to protest the college’s investment in Wells Fargo. (The activists say the bank has invested in private prisons, which Wells Fargo officials deny, and the controversial Dakota Access Pipeline, of which it is one investor.)
Read the full story at the Portland Tribune.