DAYTON, Ohio - The University of Dayton says it will begin divesting coal and fossil fuels from its $670 million investment pool, hoping to spark discussion about how use of fossil fuels affects climate change.
The private Catholic university said in a statement Monday that university trustees unanimously approved the new investment policy. The school says that reflects its commitment to environmental sustainability, human rights and its religious mission.
The university says it plans to initially eliminate fossil fuel holdings from domestic equity accounts. It then will develop plans to eliminate fossil fuel from international holdings and invest in green and sustainable technologies or holdings.
The school also will restrict future investments in private equity or hedge funds that have investments that support fossil fuel or significant carbon-producing holdings.