The University of Denver says it won't divest from fossil fuel companies as some students urged.
The school's board of trustees announced the decision Tuesday.
A student group called Divest DU led the divestment campaign, saying fossil fuels were contributing to climate change.
In a written statement, board chairman Douglas Scrivner said divestment wouldn't be an effective way to mitigate climate change and would be inconsistent with the university's investment goals.
The board said DU would look at ways to become more environmentally sustainable, including establishing a $5 million "green fund."
The board also said it would explore ways donors could have their contributions invested in line with their principles.
The board had appointed a task force to explore divestment.
DU is a private liberal arts university with about 11,600 students.
