The Board of Directors of the University of Massachusetts Foundation has announced that it will sell off its fossil fuel holdings from its endowment, making them the first major public university to do so.
The decision by the board was unanimous. It affects about $5 million worth of direct investment in fossil fuel companies, part of the university's $770 million endowment.
We spoke to Marty Meehan, president of the University of Massachusetts, about that decision. He also responded to the Pioneer Institute's report criticizing the university for its out-of-state student recruitment.
- "The University of Massachusetts endowment will sell off its fossil fuel holdings, officials announced Wednesday, marking a victory for advocates of divestment amid a nationwide surge of student activism in the fight against climate change."
- "UMass becomes the second public university system in the region, after the University of Maine, to pledge to divest from the coal industry, according to the group Fossil Free, an international network of campaigns and campaigners working toward fossil fuel divestment."
This segment aired on May 26, 2016.