BALTIMORE (AP) — The University System of Maryland Foundation says it will no longer directly invest in certain fossil fuel sources.
Leonard Raley, president and CEO of the foundation, which oversees the system’s $1 billion endowment, tells The Baltimore Sun (http://bsun.md/29eXh16) that they are concerned about climate change and taking actions to reflect that.
The foundation said Tuesday that it would sign on to a United Nations pledge to be more socially aware of its investments, and appoint a staff person to identify opportunities in renewable energy.
Officials also say they will instruct fund managers to stop investing in 200 coal, oil and gas-related companies.
The advocacy group 350.org says more than 500 colleges nationwide and around the world have divested from coal, oil and other fossil fuels sources since 2012.
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Information from: The Baltimore Sun, http://www.baltimoresun.com
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