Creighton University to divest from fossil fuels
Creighton University, Omaha, Neb., will divest from fossil fuels over the next decade.
The move for the university s endowment, which had $566 million in assets as of June 30, comes after its board of trustees approved a modified investment policy in September, according to a news release posted Monday. That modified policy also includes withdrawing from ownership of public securities of fossil-fuel companies within the next five years and seeking investments that target a market rate of return in renewable energy and energy efficiency, the university said.
In February, the board s investment subcommittee approved transactions that reduced Creighton s investment exposure to fossil-fuel companies to 5.7% of its portfolio, down from 8.9% as of June 30, 2019. By June 30, 2020, Creighton s investment in fossil-fuel companies was further reduced to 3.9%, the university said.