BANGOR, Maine - The University of Maine System trustees will vote next month on a proposal to end investments in coal-mining companies.
The trustees' investment committee voted 4-0 Wednesday to order investment managers to eliminate direct investments in coal-mining companies and to screen future investments.
The proposal is modeled after the policy Stanford University approved earlier this year.
University system spokesman Dan Demeritt said Maine's public universities are "taking meaningful steps" to reduce their carbon footprint and to reduce energy consumption.
The coal directive would apply to all funds including the UMS Managed Investment Pool, Pension and Operating Funds. It would not require the liquidation of holdings of mutual or commingled funds.