University of California Announces Divestment from Coal and Tar Sands

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The University of California has announced that it has sold off more than $200 million worth of investments in coal and tar sands companies. University officials say the move was prompted by concerns over environmental sustainability as well as the increasing riskiness of investing in the coal and tar sands industries, which have both seen their profits plummet in recent months. Bill McKibben, co-founder of 350.org, hailed the move. The European Green Party and 350.org recently launched the "Divest for Paris" challenge, calling on institutions, individuals and governments to divest from fossil fuels ahead of the climate summit in Paris later this year.