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Divest from fossil fuels, Cal Poly students tell university: ‘It’s wrong to wreck the planet’

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Monday, June 28, 2021

CSU Chancellor Joseph Castro announced on May 18 that the largest public university system in the nation would “carefully analyze” the system’s investments in fossil fuels. Then, he said the CSU would make a “prudent, fiscally sound investment-based decision” on whether to stay committed to those investments while also upholding and pursuing sustainability goals.The CSU’s Investment Advisory Committee is tasked with reviewing the system’s investments and policies and will report any findings back to the Board of Trustees at its November meeting.The CSU holds about $4.5 billion in assets in its largest financial portfolios, with $155 million in shares of fossil fuel companies — which include more than $80 million in Chevron and ExxonMobil bonds. Cal Poly, on the other hand, said it has no intention of changing its investment portfolio to meet the demands of the student campaign.

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