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University of California drops fossil fuels from its $80 billion portfolio

UC fund managers say fossil fuels "posed a long-term risk to generating strong returns"

The University of California system, which educates more than 280,000 students and employs 227,000 faculty and staff, announced late Tuesday it is divesting from fossil fuels. It’s the single largest action to date in the growing movement of institutions withdrawing their financial stakes in the industry that’s the principal driver of climate change.

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