SFSU Votes To Divest From Coal, Tar Sands Companies

SAN FRANCISCO (CBS / AP) — San Francisco State University has voted to stop investing its endowment in coal and tar sands companies, joining a growing list of universities that have decided to stop investing in fossil fuels.

The school’s foundation, which oversees a $51.2 million endowment, also voted in May to look into removing all future investments in fossil fuels companies.

SFSU’s decision announced Tuesday is part of the national Fossil Free divestment campaign, an advocacy strategy modeled after the anti-apartheid efforts of the 1980s. It aims to limit investments in fossil fuel companies by making their stocks morally and financially unattractive.

Five schools—Unity College and College of the Atlantic in Maine, Hampshire College in Massachusetts, and Sterling and Green Mountain colleges in Vermont—have also voted to divest.

(Copyright 2013 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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