- Associated Press - Wednesday, June 29, 2016

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 (https://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.


Information from: The Baltimore Sun, https://www.baltimoresun.com

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