NEW MEXICO (KRQE) – A group of students from the University of New Mexico claims the UNM Endowment is illegally investing in fossil fuels. The group leaders for Environmental Action and Foresight filed a complaint with the state attorney general. They are asking for the office to investigate whether the endowment is violating state law.
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The complaint argues as a nonprofit public charity, the group can not invest contrary to its charitable mission. At issue, is the nearly $29 million of the foundation’s investments fund that is invested in 28 local oil and gas companies. They argue this directly contributes to the degradation of the health and well-being of residents. The same strategy was used recently at Cornell University and Harvard.