Oregon State University affiliates have taken two steps to advance the divestment movement targeting fossil fuel companies.
The OSU Board of Trustees voted 11-0 in late January to approve an amendment to the state Public University Fund Investment Policy that calls on the fund to divest its current intermediate and long-term assets in fossil fuel-related stocks, and to restrict future investment in those assets.
The Oregon Treasurer's Office manages the fund on behalf of OSU and five other Oregon public universities.
About 1.7 percent of the fund is currently invested in fossil fuel-related stocks.
The trustee's action does not mean the investment policy will necessarily change, but it will be communicated to the five other universities that make up the Public University Fund.
In a separate action, the OSU Foundation recently agreed to establish a second portfolio for donors that will be free of fossil fuel holdings. The foundation decided it was best to give donors the choice of where their money goes, said OSU President Ed Ray.