California State System Will Not Invest in More Fossil Fuels | Inside Higher Ed

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California State University will not pursue future fossil fuel investments, the system announced Wednesday.

The system holds $5.2 billion across three investment portfolios: the Systemwide Investment Fund Trust, Intermediate Duration Portfolio and Total Return Portfolio. It is also working to liquidate some fossil fuel-related bonds, transition out of a direct energy mutual fund and further reduce exposure to fossil fuels.

“Consistent with our values, it is an appropriate time to start to transition away from these types of investments, both to further demonstrate our commitment to a sustainable CSU but also to ensure strong future returns on the funds invested by the university,” Joseph I. Castro, chancellor of the system, said in a statement.

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