UC to dump fossil fuels holdings in pension and endowment funds worth $83 billion – The San Diego Union-Tribune

Generally, we support engagement over divestment. But we believe that the trustees can justify this decision in terms of financial risk and return.

Top financial officials with the University of California announced Tuesday morning in an opinion article in the Los Angeles Times that the school system plans to undertake a major divestment from fossil fuels.

The stocks and bonds to be sold off are currently part of UC’s $13.4 billion endowment and $70 billion pension fund.

The article — penned by Jagdeep Singh Bachher, UC’s chief investment officer and treasurer and Richard Sherman, chairman of the UC Board of Regents’ Investments Committee — comes after faculty across the 10-campus system held a historic vote in July to demand divestment of the endowment.

via UC to dump fossil fuels holdings in pension and endowment funds worth $83 billion – The San Diego Union-Tribune

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s