Chatham University 

Endowment Value: $75.6 million (2024)

Chatham University is a private university with an enrollment of over 2,200 students. Chatham University offers over 60 undergraduate and graduate programs in four areas of excellence: sustainability; health & lab sciences; business & communication; and the arts & humanities. All undergraduates, save for those in the nursing program, are required to take a course on sustainability.

Currently, Chatham is among the five higher education institutions out of Pennsylvania’s 164 colleges and universities to formally adopt and apply ESG practices as part of their investment strategy. The University’s sustainable investment policy outlines guiding principles that include reducing fossil fuel investments, advocating against corporations that deny climate change, and favoring investments that have positive environmental impacts, promote sustainability, and support positive local community development. More than 13% of Chatham’s investment pool is in sustainable investments.

The administration has worked closely with students on the Student Investment Team (SIT) and the committee on investor responsibility to assess the University’s exposure to fossil fuels and draft recommendations towards sustainable investing. In the Spring of 2017, the investment committee of the Board of Trustees voted to approve two new investment opportunities that are specifically aimed at excluding fossil fuels and supporting sustainable energy. Chatham’s Senior Vice President of Finance, Walt Fowler, said reducing the university’s support of fossil fuel companies is in line with its goal of pursuing sustainability in every part of its operations. “It’s important to us ethically, because we believe the world needs to reduce their use of fossil fuels,” Fowler said. At the end of this year, the university will replace a hedge fund with a private equity fund focused exclusively on supporting wind power. It will also swap investment in a standard equity fund for a BNY Mellon fund that is filtered specifically for green companies but matches the performance of the current fund.

Chatham University is a participant or member of the following Initiatives & Commitments:

• IEN Member (2017)
• AASHE STARS: No- Expired
• ACUPCC: Yes, Carbon Neutral By 2025
• Committee for Investor Responsibility: Yes
• INCR: No
• Sustainable Investment Fund: No
• Sustainable Investment Policy: Yes
• Principles for Responsible Investment: No

Other Sustainable Investing Practices and News:

• Chatham University Moves Some Endowment Investments From Fossil Fuels To Green Companies, April 4, 2017
• Sustainability at Chatham University 

University of British Columbia

Endowment Value: CA$2.8 billion (2021)

The University of British Columbia (UBC) is a public research university with a student body of around 60,000 located in British Columbia, Canada. The market value of the Endowment Fund directly managed by UBC Investment Management Trust Inc. (IMANT) and is overseen by the Board of Governors. 

In 2013, UBC adopted its Responsible Investment Policy. The policy directs UBC to consider environmental, social and governance (“ESG”) factors to make informed investment decisions for the UBC Endowment. In 2014 through 2015, the Board carefully considered a student and faculty proposal for divestment and a detailed third-party analysis by Koskie Minsky, an external law firm with expertise on responsible investment.

Although the Board did not approve the proposal, it did allocate $10 million to establish the Sustainable Future Pool for donors concerned about climate change. This fund specifically aims to lower carbon emissions and excludes fossil fuels. In April of 2019, the Board voted to approve an additional $25 million contribution to the Sustainable Futures Pool over the next three years, bringing the total contributed to the pool to $50 million by 2022.

UBC Vancouver also has a Sustainability Fund, established in 2011 with $1 million, for projects that help the University achieve its sustainability goals through reducing campus energy and water consumption, reducing operational waste generation, increasing operational waste diversion from landfills, and increasing the use of alternative energy and alternative transportation.

In December of 2019, UBC declared a climate emergency. After acknowledging the severity of the climate crisis, the UBC Board of Governors expressed its support of fossil fuel divestment and directed the administration to begin taking action to divest. Additionally, UBC transferred $380 million from the university’s endowment to the Sustainable Future Pool.

In June 2020, UBC joined fifteen other Canadian universities in signing a charter committing to increased efforts to address the climate crisis. Signatories of the charter pledge to adopt an SRI investing policy, regularly calculate the carbon footprint of their investment portfolios, publicly share progress and results in achieving sustainability goals, and evaluate fund managers based on their compliance with the guidelines set forth in the charter.

 The University of British Columbia is a participant or member of the following Initiatives & Commitments: 

• AASHE STARS: No
• ACUPCC: No
• Committee on Investor Responsibility: No 
• Divestment Goal: Yes, divestment from fossil fuels 
• INCR: No
• Sustainable Investment Fund: Yes
• Sustainable Investment Policy: Yes
• Principles for Responsible Investment: Yes

Other UBC Information:

• UBC 2022 Responsible Investing Report
• UBC signs Canada-wide charter to address climate change through responsible investment (June 2020)
• UBC declares climate emergency and moves forward on two key divestment initiatives (December 2019)
• Annual Endowment Report (March 2017)
• UBC's Sustainable Investment Fund to be Free of Fossil Fuel Companies (February 2017)
• Amid calls for further action, Board of Governors votes to double contribution to UBC’s sustainable endowment fund (April 2019)

Portland State University 

Endowment Value: $80.3 million (2020)

Portland State University (PSU) is a public, nonprofit, coeducational research university located in Portland, Oregon with a student body of around 25,000. The Investment Committee of the PSU Foundation Board of Trustees oversees the endowment.

Portland State University is on its way to becoming the first university in Oregon to have no investments in the Carbon Underground Top 200 companies, the companies that own the most global fossil fuel reserves.

As a result of student advocacy on the Divest Portland State (DPS) campaign, an Environmental Social Governance (ESG) statement was added to the PSU Foundation’s investment policy in early 2015 and entails both a quarterly investment portfolio review and a negative fossil fuel screening across 100% of its portfolio. Nearly 50% of the value of PSUF’s holdings are in funds with positive SRI screenings.   

PSU currently has a Green Revolving Fund (GRF), established after its pledge to the Billion Dollar Green Challenge. The GRF provides funding for energy efficiency projects across campus. The fund currently holds $1.5 million and has funded nearly 20 projects since its inception in 2013.

Portland State University is a participant or member of the following Initiatives & Commitments: 

• IEN Founding Member (2016)
• AASHE STARS: Yes, Gold
• ACUPCC: Yes, Climate Neutral by 2040
• Committee on Investor Responsibility: Yes
• Divestment Goal: No
• INCR: No
• Sustainable Investment Fund: Yes
• Sustainable Investment Policy: Yes
• Principles for Responsible Investment: No

Other Sustainable Practices and Resources:

• Sustainability at PSU

Endowment Value: $212.8 Million (2019)

Ball State University is a public university located in Muncie, Indiana. Its endowment is managed by the Ball State University Foundation. The mission of the Ball State University Foundation is to “maximize sustainable support for Ball State University by obtaining, investing, and administering private gift support and prudently discharging its fiduciary obligations to the university, donors, and designated beneficiaries.”

In spring 2012, the university launched its geothermal heating and cooling system — the nation’s largest ground-source, closed-loop district geothermal energy system. Now, nearly fully operational, the system will cut the university’s carbon footprint in half and result in an annual savings of $2 million, said Jim Lowe, director of engineering, construction, and operations at Ball State.“When we shut down the coal-fired burners in March 2014, we not only reduced our dependence on fossil fuels, we also reduced carbon dioxide emissions and sulfur matter produced by burning coal,” Lowe said.

In 2015, board members of the Ball State University Foundation supported pursuing an alternative investment portfolio that adopts environmental, social, and governance (ESG) strategies. Currently, the foundation encourages its fund advisors and managers to incorporate ESG strategies into its investment portfolio. Further, foundation employees are developing opportunities for donors who wish to have gifts managed via more specific, restrictive criteria.

Ball State University is a participant or member of the following Initiatives & Commitments: 

• IEN Founding Member
• AASHE STARS: Yes, Silver
• ACUPCC: Yes, Climate Neutral by 2030
• Billion Dollar Green Challenge: No
• CDP: No
• Committee on Investor Responsibility: No
• Divestment Goal: Yes
• Montreal Carbon Pledge: No
• Sustainable Investment Fund: Yes
• Sustainable Investment Policy: Yes
• Principles for Responsible Investment: No

Other Sustainable Investing Practices:

• Statement of Investment Principles
• Statement on Sustainability
• BSU Climate Action Plan

Endowment Value:  $922 million (2019)

Arizona State University (ASU) is a top-ranked research university in the greater Phoenix metropolitan area. ASU has a student body of over 80,000 students. The ASU Foundation manages ASU's endowment. The foundation also serves as the university’s entrepreneurial arm in technology commercialization, real estate investment, and other emerging initiatives.

In November of 2018, IEN published a Case Study for Arizona State University which provides in-depth coverage of the University's move toward sustainable investing. This case study was developed with significant input from the senior leadership from ASU and their investment advisors at BlackRock.

The Investment Committee advises the executive vice president, treasurer, and CFO in guiding the investment of university operating cash and endowment funds. The committee approves university investment policies, selects investment consultants and managers, monitors performance, and advises on investment strategies. Voting members of the committee include faculty from the W. P. Carey School of Business. Other voting members are appointed by the executive vice president, treasurer, and CFO.

Arizona State University’s on-site solar portfolio is one of the largest of any university in the United States, consisting of both ASU-owned and third-party-owned systems. ASU’s portfolio includes more than 24 MW dc equivalent of photovoltaic (PV), concentrated photovoltaic (CPV) and solar thermal capacity from 88 systems located throughout four major campuses and the ASU Research Park. ASU’s portfolio of renewable energy accounts for approximately 13% of ASU’s total electric use, avoiding approximately 21,000 metric tons of carbon dioxide equivalent emissions per year, roughly the same as the annual emissions of 4,500 passenger vehicles.

ASU’s revolving fund is called the Sustainability Initiatives Revolving Fund, or SIRF. The SIRF was established in 2010 to invest in projects that foster sustainability efforts and provide an economic return on investment. SIRF funds are available to ASU community members. With the exception of small SIRF grant projects (less than $5,000), SIRF projects have certain investment criteria (e.g., IRR, NPV, and payback goals). Projects include lighting retrofits, HVAC improvements, and central utility infrastructure improvements.

In January of 2015, the ASU Foundation partnered with the Intentional Endowments Network to host the Intentionally Designed Endowment Forum. Over 100 higher education administrators convened to discuss how endowments can be used to create a more sustainable and equitable future.

As of July 2019, the ASU Foundation offers a socially responsible investment fund for endowment donors to donate to rather than the traditional endowment pool.

Arizona State University is a participant or member of the following Initiatives & Commitments: 

• IEN Founding Member (2016)
• AASHE STARS: Yes, Platinum (2020)
• ACUPCC: Yes, 0 emissions by 2025
• Billion Dollar Green Challenge: Yes
• CDP: No
• Committee for Investor Responsibility: Yes
• Divestment Goal: No
• INCR: No
• Montreal Carbon Pledge: No
• Sustainable Investment Fund: Yes
• Sustainable Investment Policy: Yes
• Principles for Responsible Investment: No

Sustainable Investing Resources from ASU:

• ASU Endowment
• Arizona State University Case Study (October 2018)
• Socially Responsible Investing at the ASU Foundation
• Investment Management Model
• ASU SIRF: Sustainability Initiatives Revolving

Articles: 

• ASU Foundation creates new socially responsible investment fund (July 3, 2019)

Pratt Institute 

Endowment Value: $224.5 million (2021)

Pratt Institute is a private college located in Brooklyn, New York. Pratt Institute has shown strong support for sustainability at the local and national levels, as well as within the art, design, and higher education communities.

Pratt was one of the earliest signatories to the American College and University Presidents Climate Commitment (now known as the Climate Leadership Commitments) in 2007. That same year, the Institute accepted New York City Mayor Bloomberg’s 30/10 Challenge to reduce greenhouse gasses by 30 percent by 2017. Pratt Institute has been named one of the country’s most environmentally responsible colleges by The Princeton Review for several consecutive years. 

While Pratt does not have an official Committee on Investor Responsibility, it does have a Sub-Committee on Investments which, in 2016, recommended and approved divestment from coal securities immediately and other fossil fuels over time. 

Pratt Institute is a participant or member of the following Initiatives & Commitments: 

• IEN Founding Member
• AASHE STARS: Yes, Silver
• ACUPCC: Yes, Carbon Neutral By 2040
• CDP: No
• Divestment Goal: Yes, full divestment
• Committee for Investor Responsibility: No
• INCR: No
• Sustainable Investment Fund: No
• Sustainable Investment Policy: Yes
• Principles for Responsible Investment: No

Other Sustainable Investing Practices:

• Pratt to Divest from its Investments in Fossil Fuels
• Campus Sustainability

California State University—Northridge

Endowment Value: $203.5 million (2021)

California State University, Northridge (CSUN) is a public university in the Northridge neighborhood of Los Angeles, California. It is the second-largest branch of the 23-campus California State University system with a student body of over 40,000 students. CSUN's endowment is directly managed by the California State University Northridge Foundation. The university’s Board of Directors has given the CSUN Foundation’s Finance and Investment Committee the authority to monitor investments and policies. 

In 2015, students enrolled in Finance 437 were given the opportunity to manage $250,000 invested in ESG funds and companies. Students referred to Corporate Responsibility Magazine’s ranking of the “100 Best Corporate Citizens.” The class, taught by Dr. Mike Phillips, employs a different investment strategy each semester in an attempt to understand which ESG investing method is most effective.

Initiatives & Commitments: 

• AASHE STARS: Yes, Gold
• ACUPCC: Yes, Climate Neutral by 2040
• Billion Dollar Green Challenge: No
• CDP: Yes
• Committee on Investor Responsibility: No
• Divestment Goal: Yes, halt fossil fuel investments
• INCR: No
• Montreal Carbon Pledge: No
• Sustainable Investment Fund: No
• Sustainable Investment Policy: Yes
• Principles for Responsible Investment: No

Other Sustainable Investing Practices:

• California State University Undergraduate Managed Sustainability Fund
  • This fund is sponsored by The University Corporation and it is a class project for FIN 491ABH, a Business Honors Seminar class.
• Northridge Foundation Endowment Portfolio Holdings Snapshot (June 2018)
• CSU Sustainability Policy 

Resources from CSU, Northridge:

ESG Investing: A Simple Approach l James Chong and G. Michael Phillips, The Journal of Wealth Management (2016)