The University of Dayton board of trustees approved a new divestment policy that will start with the divestment of coal and other fossil-fuel companies from the institution's $670 million investment pool, a university spokesman said Tuesday.
The investment pool includes the Dayton, Ohio-based university's endowment.
The university's divestment will occur in stages, a news release said. It will initially eliminate fossil-fuel holdings from its domestic equity portfolios. Going forward, the university will then develop plans to eliminate fossil-fuel companies from international holdings, invest in green and sustainable technologies or holdings, and restrict private equity or hedge fund investments whose investments support fossil-fuel or significant carbon-producing holdings.
“We cannot ignore the negative consequences of climate change, which disproportionally impacts the world's most vulnerable people, said University of Dayton President Daniel J. Curran in the news release.