Seattle University is set to be the first college in Washington state and the first Jesuit college to divest in fossil fuels, according to a report by the Seattle Times.
University officials said it would no longer invest any of its $230 million endowment in, “funds and securities” of fossil fuel companies.
“By taking this step we are acting boldly and making an important statement … We join with others also at the forefront of the growing divestment movement and hope our action encourages more to do the same” said university president Stephen Sundborg in a announcement.
More than $13 million of the endowment is currently spent on fossil fuels, according to the report.
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