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CHAPEL HILL, N.C. (AP) — Trustees at the University of North Carolina-Chapel Hill want their endowment fund managers to look into clean energy investment opportunities.
The move comes after student activists asked the school to stop investing in coal-burning energy companies, The News & Observer of Raleigh (http://bit.ly/ZfODIt ) reported.
The trustees voted unanimously Thursday to ask their endowment fund managers to research investments that would encourage clean energy strategies.
It's unclear if the review will result in clean energy investments. There also was no move Thursday to divest from coal-related energy companies.
Students were pleased with the board's actions.
"It's hard not to be ecstatic," said Tait Chandler, a senior from Canada who began work on a coal divestment campaign his first year at the school. "This is like the first time we can say, 'This is what we've done.'"
The students had made a similar request last year, but trustees said their presentation was one-sided. In the spring, a forum was held that included representatives from the investment community and Duke Energy, as well as environmentalists.
UNC-Chapel Hill's $2.4 billion endowment includes energy stocks. It's not clear how much of that is invested in coal-related businesses.
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Information from: The News & Observer, http://www.newsobserver.com
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