Opinion: UC investments are going fossil free. But not exactly for the reasons you may think | LA Times

A timely and encouraging milestone from Jagdeep Singh Bachher (the University of California’s chief investment officer and treasurer) and Richard Sherman (chairman of the UC Board of Regents’ Investments Committee); on a related note, see Money Is the Oxygen on Which the Fire of Global Warming Burns [Bill McKibben] | The New Yorker

"We are investors and fiduciaries for what is widely considered the best public research university in the world. That makes us fiscally conservative by nature and by policy — “Risk rules” is one of the 10 pillars of what we call the UC Investments Way. We want to ensure that the more than 320,000 people currently receiving a UC pension actually get paid, that we can continue to fund research and scholarships throughout the UC system, and that our campuses and medical centers earn the best possible return on their investments.

We believe hanging on to fossil fuel assets is a financial risk. That’s why we will have made our $13.4-billion endowment “fossil free” as of the end of this month, and why our $70-billion pension will soon be that way as well."

Opinion: UC investments are going fossil free. But not exactly for the reasons you may think | LA Times