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“The ‘Yes’ for coal divestment makes the UW a leader in the moral fight of our generation.”

The University of Washington (UW) will divest roughly $2 million of its endowment from coal companies, citing “the seriousness of the climate change problem,” after a vote by the school’s board of regents Thursday night.

“Our action today is the latest element of the University’s long-term commitment to improving the environment through world-class research and state-of-the-art sustainability practices,” board chair Bill Ayer said in a statement.

“The Regents take very seriously their responsibility for managing the University’s investment portfolio… It has made divestment decisions only a few times on matters it felt represented important values. That we decided to divest from coal companies today reflects the seriousness of the climate change problem,” he added.

The decision comes after nearly three years of campaigning by student organizers with Divest UW—and makes it the largest public university to take that step.