Dive Brief:

• The University of Dayton announced Monday that it will divest from coal and fossil fuels in its $670 million investment pool.
• According to the university, it is believed to be the first Catholic university in the U.S. to take such a step.
• Dayton’s president, Daniel Curran, said the divestment action reflects Catholic teachings and the school’s Marianist values.

Dive Insight:

According to Dayton, the school’s trustees and consultants are confident the fossil-fuel-free investment strategy will not have a significant negative affect financially. The university is planning its divestment as a phased process. First, it will eliminate fossil fuel holdings from its domestic equity accounts. Then, it will develop plans to eliminate fossil fuels from international holdings, invest in green and sustainable technologies, and restrict future investments in private equity or hedge funds with investments in fossil fuel or significant carbon-producing holdings.