The University of Utah will continue to invest in fossil fuel equities, the school's board of trustees announced Thursday, despite recommendations by faculty members to divest shares in response to environmental pollution and climate change.
In May, the University of Utah Academic Senate narrowly approved a resolution calling for the school to rid its investment portfolios of fossil fuels.
But a statement from the board of trustees and U. President David Pershing dismissed that recommendation while praising the research and discussion of senate members.
"Environmental challenges are multilayered and complex, which make them especially difficult to solve," the statement reads. "Like many other major universities around the country, we are not convinced that divestment from fossil fuel-heavy funds in the next five years, as the Senate has recommended, is the best method for addressing these challenges."