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Md. university system to divest from some fossil fuels

The University System of Maryland Foundation says it will no longer directly invest in certain fossil fuel sources.

Leonard Raley, president and CEO of the foundation, which oversees the system’s $1 billion endowment, tells The Baltimore Sun that they are concerned about climate change and taking actions to reflect that.

The foundation said Tuesday that it would sign on to a United Nations pledge to be more socially aware of its investments, and appoint a staff person to identify opportunities in renewable energy.

Officials also say they will instruct fund managers to stop investing in 200 coal, oil and gas-related companies.

The advocacy group 350.org says more than 500 colleges nationwide and around the world have divested from coal, oil and other fossil fuels sources since 2012.