November 26, 2015 / 12:47 PM / 4 years ago

Britain's LSE to reduce investments in coal, tar sands

LONDON, Nov 26 (Reuters) - The London School of Economics and Political Science has joined a growing number of institutions that have committed to divest from fossil fuels.

In its socially responsible investment policy, the university said it would not make direct or indirect investments in equities or bonds issued by companies engaged in the extraction of thermal coal and tar sands, the most polluting of fossil fuels.

“The school will seek to progressively reduce its investment in funds which indirectly place its endowment in companies significantly engaged in the extraction of thermal coal and tar sands,” it added.

The university did not say how much it has invested in such funds, and was not immediately available to comment.

Globally, more than 400 institutions and 2,000 individuals have pledged to divest $2.6 trillion from fossil fuels. ($1 = 0.6629 pounds) (Reporting by Nina Chestney; editing by Susan Thomas)

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