BANGOR, Maine - The University of Maine System says going forward it will consider so-called ESG - Environmental, Social and Governance - principles in its investment decisions. ESG assesses the sustainability and ethical impacts of an investment.
Friday's announcement stops short of the complete divestment from petroleum stocks in the system's portfolio that some students had been pushing for.
A spokesperson for Maine Students for Climate Justice says that the move is a positive one, but her group will continue to pressure the UMaine System to "get out of the fossil fuels business entirely."
The announcement comes in time for Earth Day on Saturday.
System officials are also touting another statistic: The seven schools across the system, they say, have cut total carbon emissions by 34 percent over the last 10 years.
