University of Utah won't get rid of fossil-fuel investments

The Associated Press

 

SALT LAKE CITY (AP) — The University of Utah board of trustees is rebuffing a push to get rid of the school's investments associated with fossil fuels.

President David Pershing said in a statement Thursday that university leaders aren't convinced that divesting is the best way to address climate change.

The announcement comes after faculty members on the Academic Senate passed a resolution calling for the school to divest its endowment over the next five years.

Pershing said leaders support increasing the school's investments in green loan funds and the use of low-carbon investment funds.

The move could have been costly for the public institution because the state actively promotes oil and gas development, coal mining and the export of its coal overseas.

Pro-divestment alum Matthew Kirkegaard calls the disheartening and says climate change could destabilize students' futures.

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