The move from one of the US’s largest private universities, whose endowment totals over $5bn, represents a significant win for the climate movement, organizers said.
The university first formalized the commitment in an August letter from William R Berkley, chair of NYU’s board of trustees, which was seen by the Guardian, addressed to a student activist group.
Students have been pushing NYU to divest from fossil fuels since at least 2004 but were previously rebuked.
Some 250 US educational institutions have divested from fossil fuels, according to data from Stand.earth and 350.org.
