A protestor holds up her hand covered with fake oil during a demonstration on the U.C. Berkeley campus in May 2010. Justin Sullivan / Getty Images The University of California system will dump all of its investments from fossil fuels, as the Associated Press reported. The university system controls over $84 billion between its pension fund and its endowment. However, the announcement about its investments is not aimed to please activists. In a joint op-ed in the Los Angeles Times , Jagdeep Singh Bachher and Richard Sherman, University of California’s chief investment officer and the chairman of the UC Board of Regents’ investment committee, declared that since they are charged with protecting the financial interests of one of the world’s best public research universities, investing in fossil fuels posed too many financial risks. "We believe hanging on to fossil fuel assets is a financial risk," Bachner and Sherman wrote in the Los Angeles Times . "That’s why we will have made our $13.4-billion endowment "fossil free" as of the end of this month, and why our $70-billion pension will soon be that way as well." They went on to refute the idea that their decision is born of political […]

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