A nationwide showdown between activists and universities over investments in coal, oil and gas intensified Tuesday after a University of California task force abruptly pulled back a draft recommendation not to sell its fossil-fuel holdings. The group—charged with advising the university’s investment committee—had planned to suggest that the state system join Harvard University, Yale University and Brown University in holding fast against activist calls to dump their fossil-fuel investments, said people familiar with the discussions. But in an hourlong meeting Tuesday, several task-force members successfully argued for preserving the option of divestment. The task force subsequently removed from its recommendation to an investment committee language stating that selling those investments “would not meaningfully impact climate change,” these people added. A system spokeswoman said the university isn’t currently considering a complete fossil-fuel divestment but may decide to sell some assets as it sets new investment guidelines. The deliberations at the […]