California University divests $200m from coal and tar sands holdings

Stricter regulation and drop in global demand made investments too risky, says university's chief investment officer

The University of California has sold off $200m (130m) of coal and oil sand investments from its $98bn investment fund less than a year after initially refusing to do so.

In September of last year, the university's board of regents chief investment officer Jagdeep Singh Bachner refused to sell off the holdings, arguing that a more "holistic approach" than divestment was needed.