Lewis & Clark College Votes to Divest From Fossil Fuel Companies
The Lewis & Clark College board of trustees recently voted unanimously to divest from all fossil fuel holdings in the endowment by the end of 2022. Additionally, no new investments will be made in any fund that has exposure to fossil fuel companies. An annual update will be made to the broader campus community on holdings of fossil fuel securities in the endowment portfolio.
Duke U Partners With Delta Airlines on Carbon Offset Initiative
The university and Delta Airlines covered the cost of 1,000 trees that will be planted in Duke's hometown of Durham, North Carolina. The purchase, facilitated by Urban Offsets, simultaneously offsets carbon from all university business travel on Delta in 2017. The 1,000 trees are equal to 5,000 carbon credits and will be planted during the 2017-18 planting season in neighborhoods found to have insufficient tree cover, according to a 2016 survey by Duke’s Nicholas School of the Environment.
Brandeis U Receives $8.4M Gift for Social Justice Initiatives
A former rehabilitation doctor who visited Brandeis just once, but felt a strong connection to its social justice values, left the university an $8.4 million gift, which will provide financial aid for four to five students in the Sustainable International Development program and support research and program development in the Center for Global Development and Sustainability.
Johns Hopkins U to Divest Holdings in Major Coal Producers
Following a recent vote of its board of trustees, the university will divest from its separately managed holdings in thermal coal recently. The board's vote directs the university to stop buying the stocks and bonds of companies that produce coal for electric power as a major part of their business, and to sell from its endowment or other investments any securities it directly owns from those companies, on a schedule that minimizes financial loss.
Hampshire College Chronicles Its Mission-Based Endowment Investing
A case study released by Intentional Endowments Institute describes Hampshire College's policy and process for aligning its endowment investments with its nonprofit mission and values. The case study also reveals how the college developed its investment policies with staff and student engagement.
U Edinburgh Invests Millions in Low Carbon Companies
(U.K.) The university recently moved $79.3 million (60 million pounds) of its investments into two funds that businesses that support a cleaner, more sustainable and climate-friendly future. One fund invests in companies that tackle a range of sustainability issues, including green products, low-carbon infrastructure, sustainable water, energy and food, while the second fund direct supports a global transition to low-carbon and renewable energy.
Smith College Establishes a $100K Student Managed Fossil Fuel-Free Fund
Smith College has provided $100,000 to the Smith College Investment Club to create and manage a new portfolio of fossil-fuel-free investments. Students will set criteria for what meets the standard of a fossil-fuel-free portfolio, and will make investment decisions. The new fund, which grew out of a recommendation from the Study Group on Climate Change, offers students the opportunity to gain hands-on experience in the growing field of impact investing.
Smith College Trustees Approve Responsible Investment Recommendations
At its October meeting, the college's board of trustees adopted four strategic recommendations regarding climate change and the Smith endowment, which are designed to support the college’s commitment to environmental sustainability while also ensuring the continued health of the endowment.
SUNY Receives $800K Grant to Develop Sustainable Village in Haiti
With a nearly $800,000 grant from the W.K. Kellogg Foundation, 10 State University of New York campuses and five not-for-profit organizations will be working together to establish a sustainable village and learning community on 40 acres of land in Akayè, Haiti.
Pitzer College Launches ESG-Focused, Fossil-Free Fund
This August, the college became the founding investor in a new global equity index fund that is both environmental, social and governance focused and fossil fuel free. The fund is designed to help endowments, foundations and other nonprofit organizations meet their responsible investment goals.
SUNY New Paltz to Divest From Fossil Fuel Companies
The SUNY New Paltz Foundation board voted recently to remove endowment funds from direct investment in fossil fuel companies. The initial request to consider divestment came from a group of students who raised the issue with the college president in September 2016. The SUNY New Paltz Foundation endowment currently stands at about $20 million. Data as of June 30, 2017, show that about 4.5 percent, or $920,055, was directly invested in fossil fuel companies.
U Nebraska Kearney to Invest $11M in Solar Energy
The university is expected to meet 25 percent of its electrical energy through a new $11 million, 25-year contract for solar energy from a nearby 5.8-megawatt array that is expected to be completed in February 2018. The university anticipates saving more than $250,000 over the next 25 years of the contract.
Virginia Private Colleges Receive Solar Energy Funding
The Council of Independent Colleges in Virginia (CICV) has been awarded more than $807,000 in federal funding from the U.S. Department of Energy SunShot Initiative to help 16 member colleges develop comprehensive plans for implementing solar power on their campuses. The three-year program is designed to help the colleges navigate the legal, regulatory and technical challenges associated with installing solar systems, leverage group purchasing power, and create a learning network accessible by other organizations considering solar power.
U Notre Dame Establishes Endowment for Sustainability Minor
The Otterbeck Family Endowment for Excellence in Undergraduate Sustainability Studies was established in March. The first major program supported by the endowment this past semester was a course development grant, which was awarded to six faculty members to support the creation of new sustainability courses. Other goals include student research support, alumni mentoring and career guidance.
Australian Catholic U Raises AU$200M Through Sale of Sustainability Bonds
(Australia) The university has secured 200 million Australian dollars ($158.5 million) in investor funds earmarked for projects that deliver positive social and environmental outcomes. The funds will go toward teaching and research in areas including education and healthcare and green property projects that are in alignment with the International Capital Market Association’s Sustainability Bond Guidelines. The ACU Sustainability Bonds are the first sustainability bonds issued in Australia.
Loyola Marymount U Signs Principles for Responsible Investment Pledge
In an effort to promote and support ethical decision-making, the university recently announced its decision to sign onto the U.N.-supported Principles for Responsible Investment, a set of guidelines for incorporating environmental, social and governance factors into investment decisions.
Northland College to Divest From Fossil Fuels
The college's board of trustees voted recently to fully divest the college’s endowment funds from fossil fuels in the next five years. Approximately 2.9 percent of the college’s $28 million endowment is currently invested in fossil fuels listed in the Carbon Underground 200. These investments will be replaced with more socially responsible investments and no new endowment funds will be invested in fossil fuel companies.
U Winnipeg Regents Approve New Responsible Investment Policy
Created and approved by the university’s foundation, the responsible investing policy ensures that environmental, social and governance factors guide endowment investment decisions. The foundation plans to include regular updates on the application of its responsible investing policy in its quarterly investment reports.
Georgetown U Approves New Socially Responsible Investing Policy
The new policy, approved by the university board of directors, further aligns the university’s investment strategy with its commitment to social justice, protection of human life and dignity, stewardship for the planet and promotion of the common good. The new policy was developed by the board working group on socially responsible investments, which was formed in 2015 following the board’s decision to divest from direct investments in companies whose principal business is the mining of coal for use in energy production.
Portland CC Board Passes Divestment Resolution
The community college's board of directors passed a new resolution to divest college funds from socially irresponsible companies and investments, and fossil fuel-producing companies listed in the Carbon Underground 200. The movement to divest was started by student leaders in early 2016.
U Dayton Receives $500K in Energy Rebates
The university was recently awarded $500,000 in energy efficiency rebates from the local utility provider, which will seed the university's Green Revolving Fund and be used for sustainability projects on campus. The funding came from energy-efficient initiatives implemented during the last decade.
U Oregon Releases Videos From Summit on Ethical Investing
A recent symposium about ethical investing was organized by students, faculty, staff and the University of Oregon Foundation in early April 2017, largely in response to the student divestment campaign. The gathering tackled the question of how climate change is affecting businesses and investors. The sessions were recorded and can be viewed for free.
Queen's U Belfast Announces Responsible Investment Policy
Following recent discussions with the Students’ Union, the university has updated its investment policy and will, with some caveats, seek to disinvest from companies involved in the extraction and production of fossil fuels by 2025. Additionally, the university is implementing a comprehensive Carbon Management Strategy that aims to significantly reduce carbon emissions.
U Hong Kong Introduces Green Revolving Fund
(Hong Kong) The university's new Green Revolving Fund (GRF) supports improvement initiatives on campus with the aim of reducing carbon emissions. The fund will invest in energy-efficiency projects in university buildings, returning the utility and maintenance cost savings back to the fund for further projects. Initial funding of approximately $1 million Hong Kong dollars ($128,000) will be allocated this year in the GRF’s pilot phase. The seed capital will fund two lighting projects.
Harvard U Takes Pause on Some Fossil Fuel Investments
Harvard Management Company’s head of natural resources Colin Butterfield said recently at a Business School event that Harvard is “pausing” investments in some fossil fuels. Butterfield added that Harvard indirectly invests in fossil fuels through outside funds, however he also said that Harvard's natural resources portfolio will not likely invest in the fossil fuel industry in the future because those funds do not perform that well financially.
U Maine System Announces ESG Investment Policy
Maine’s public universities celebrated Earth Day 2017 with an announcement of a change to their investment policy that gives consideration to environmental, social and governance (ESG) principles when completing asset allocation and investment manager reviews. The system's managed investment pool's market value is currently $287 million. The universities also heralded the release of a report that details a 34 percent decline in total gross emissions across the seven-campus system over the last decade.
Chatham U Aims to Invest Endowment in Sustainable Energy
At a recent meeting of the university's investment committee of the board of trustees, members voted to approve two new investment opportunities that are specifically aimed at excluding fossil fuels and supporting sustainable energy. With those changes, 96 percent of its endowment will be fossil fuel-free. Currently, about five percent of the $80 million endowment fund is invested in fossil fuels.
Harvard U and U Pennsylvania Students Stage Divestment Protests
Student protesters at both universities recently held sit-ins asking administrators to divest from fossil fuels. Harvard students are demanding that school officials divest its endowment from the coal industry, while Penn students are seeking immediate divestment from coal and tar sands, and full divestment from fossil fuel corporations within six months. In previous responses to student divestment advocates, officials at both schools have indicated that while they share the students’ concerns about climate change, they disagree on the strategy and will not be divesting money from the fossil industry.
MIT Creates Sustainability Incubator Fund
The new Campus Sustainability Incubator Fund seeks to enable MIT community members to use the MIT campus as a test bed for research in sustainable operations, management and design. It is intended to support the generation of breakthrough sustainability solutions.
Umeå U Ends Fossil Fuel Investments
(Sweden): The decision to end all university investments in fossil fuels was made in December 2016 and contributed to the university being nearly fossil free at the beginning of 2017. A small portion of investments remain that will be phased out this spring. The university's investment policy is now being revised to include a statement prohibiting investments in fossil fuels.
Columbia U Announces Coal Divestment Plans
The university's board of trustees has voted to support a recommendation from its Advisory Committee on Socially Responsible Investing to divest from companies deriving more than 35 percent of their revenue from thermal coal production and to participate in the Carbon Disclosure Project’s Climate Change Program.
U Bristol Announces Fossil Fuel Divestment & Carbon Reduction Plans
(U.K.): The university's board of trustees has agreed to end investment in companies that derive more than five per cent of turnover from the extraction of thermal coal or oil and gas from tar sands by January 2018, and actively manage other areas of its portfolio of energy investments, including those in oil and gas, to achieve a material reduction in carbon emissions from these investments. This will include investing in companies at the leading edge of carbon management and in companies with strong, deliverable commitments to improving their carbon efficiency, as well as a greater investment focus on non-fossil fuel energy providers.
Kings College London Commits to Fossil Fuel Divestment
(U.K.): Sharing concern with the Students' Union about the dangers of human-induced climate change, the college recently committed to divest from all fossil fuels by the end of the year 2022, to be carbon neutral by 2025, and to increase its commitment to investments with socially responsible benefits from the present goal of 15 percent to an aspiration of at least 40 percent by 2025. With this agreement, the direct action campaign that called on the college to divest from fossil fuels drew to a close.
Barnard College Endowment to Divest From Climate Change Deniers
The college's board of trustees recently voted to divest from energy companies that deny climate change. The board approved the measure saying the college will “distinguish between companies based on their behavior and willingness to transition to a cleaner economy.” Barnard students initially pressed for a broad divestment pledge before proposing a more limited measure that would target only those fossil fuel companies that seek to deny climate science or thwart efforts to mitigate the impact of global warming.
U British Columbia Starts $10M Sustainability Investment Fund
Donors now have the option to give to the university's new Sustainable Future Fund, a fund for low-carbon emission and high environmental, social and governance equity funds. Seeded with $10 million, the fund was launched as a result of a responsible investment policy for its endowment, approved by the university's board of governors in 2015.
U California Divests $475M from Wells Fargo Contracts
Following continued advocacy from the Afrikan Black Coalition, a Black student union, the university has discontinued $475 million worth of contracts with Wells Fargo citing amoral practices and unfair treatment of black and brown people as the reason. The decision comes on the heels of several cities and states terminating relationships with Wells Fargo.
Colorado State U Commits to 100% Renewable Energy
The university president recently signed a pledge committing the university to be powered from 100 percent renewable electricity by 2030, after more than 4,300 students, faculty and staff had signed a petition encouraging the university to consider the pledge. The university says that the decision to invest in renewable energy is due to the projected increase in energy prices over the next 20 years.
U California, Irvine Converts Bus Fleet to All Electric
The student-funded and -operated Anteater Express shuttle service is acquiring 20 all-electric buses to the tune of $15 million. The buses will roll onto campus for the 2017-18 academic year, joining a hydrogen electric bus, to provide more than 2 million pollution-free rides annually. Undergraduates voted to pay up to $40 per quarter to the Associated Students of UCI to cover the bus purchase.
Red Deer College to Receive $4.75M to Boost Energy Infrastructure & Training
Under the a Canadian federal government investment fund, the college will receive more than $4.75 million for two projects, and it will match the funding, for a total investment of $9.5 million that it is allocating toward upgrades to the campus, and training and research opportunities focused on alternative energy production processes.
U Melbourne Unveils Four-Year Sustainability Plan
(Australia): The university’s first institution-wide Sustainability Plan 2017-2020 indicates the university will become carbon neutral before 2030, achieve zero net emissions from electricity by 2021 and will now report annually on the institution’s sustainability impact and performance. The plan also calls for the establishment of a sustainable investment framework for evaluating and managing material climate change risk, and will set out the criteria for divestment from and investment in listed equities.
SUNY New Paltz Awards $1.4M Toward Energy Projects
The university's energy management coordinator organized awards totaling more than $1.4 million for four energy projects: a solar energy storage system, thermal blankets to wrap heating piping in the mechanical rooms of buildings across campus to conserve energy and reduce heat loss, LED lighting upgrades and implement a summer demand response program.
Oregon State U Board Votes to Divest from Fossil Fuels
Responding to calls from students and faculty concerned about global warming, the university's board of trustees voted recently to dump the university’s investments in the fossil fuel industry. The decision means the state treasurer will begin selling off about $6.7 million in securities issued by fossil fuel companies, which represent less than 2 percent of the $516 million currently held in the fund.
Maryland Gov. Announces $7.5M for U Maryland 'Green Energy Institute'
Maryland Governor Larry Hogan announced his environmental agenda for the coming legislative session that included allocation of $7.5 million to the University of Maryland to create a green energy research center. The mission of the Green Energy Institute will be to develop and attract private investment and commercialize clean energy innovations and deployment solutions in Maryland.
Michigan State U Receives $2M for Community Partnerships
The university's Office of K-12 Outreach will use a $2.1 million grant from the Charles Stewart Mott Foundation to work with the city of Flint, Michigan. The funding will be used in Flint Community Schools on four strategies that include training the district's managers on the effective use of data and strengthening community relations.
NY Times Covers Influence of Corporate Funding on Higher Ed Research
Recently published in The New York Times, the article highlights the experience of three professors at different universities–University of Exeter in England, West Virginia University and Swiss Federal Institute of Technology in Zurich–to examine the ways agrochemical companies influenced scientific inquiry.
Emory U Awards Micro-Grants to Sustainability Projects
The general Sustainability Incentives Fund allows students, faculty and staff at the university to request up to $3,000 to complete a sustainability project. Recently awarded projects cover the areas of energy, climate, public engagement, grounds, transportation, buildings and waste. All proposals were reviewed by a committee of students, faculty and staff engaged with sustainability programs and practices on campus.
Georgia State U Receives $160K Grant for Parking Deck Lighting Improvements
After receiving an energy audit and report of a university-owned parking deck from an Atlanta-based, energy nonprofit, the university will use a matching grant of $160,340, for a total of $320,680, to retrofit or replace existing metal halide and fluorescent lighting with LED lighting, install occupancy sensors and raise light levels to increase safety. In total, the project is expected to reduce site energy consumption by 52 percent, a cost avoidance of nearly $55,000 annually.