SEATTLE (AP) - University of Washington regents have voted to eliminate the university’s investment in coal companies and prohibit such investment in the future.
In a statement, regents chairman Bill Ayer said Thursday’s decision “reflects the seriousness of the climate change problem.” He says it’s the latest element of the university’s commitment to improving the environment.
The vote means the UW’s investment managers will have until Dec. 31 to eliminate direct coal holdings. The regents are defining a coal company as a parent company whose principal business is the mining of coal for energy generation.
In March, a student campaign called Divest UW made a presentation to the regents in support of coal divestment in the university’s endowment fund.
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