University of Maine

Endowment Value: $444.9 million (2021)

Founded in 1865, the University of Maine is the flagship campus of the University of Maine System. The University of Maine Foundation manages the University of Maine's endowment. 

A recent change in the UMaine System's investment policy prioritizes environmental stewardship by taking ESG factors into consideration when managing investments in the Managed Investment Pool. The pool has a market value of $304 million and includes the system's endowment funds as well as funds held for foundations tied to the University of Maine at Fort Kent, University of Maine School of Law, and the University of Southern Maine. Currently, UMS conducts negative screening for coal. University of Maine requires that all consultants be a signatory to the Principles for Responsible Investment (PRI). Consultants must take ESG factors into consideration when advising on asset allocation and manager selection.

Strategic investments in biomass energy systems using locally-sourced fuel at the University of Maine at Farmington and the University of Maine at Fort Kent have both reduced emissions and helped support job growth in the state's biomass industry. The universities also released a report that shows the seven-campus UMaine System has achieved a 34% decline in carbon emissions over the last decade.

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

• IEN Founding Member (2016)
• AASHE STARS: Yes, silver
• ACUPCC: Yes, Carbon Neutral by 2040
• Committee on Investor Responsibility: No
• Divestment Goal: Yes, Coal Only
• INCR: No
• Sustainable Investment Fund: Yes, Green Loan Fund
• Sustainable Investment Policy: Yes
• Principles for Responsible Investment: No

Other Sustainable Practices and Resources:

• UMaine System marks Earth Day with new investment policy (April 2017)
• Sustainability at the University of Maine 

Unity Environmental University

Endowment Value: $18 million (2025)

Unity Environmental University is a private university with a student body of 10,390 (’24 -’25). Its main campus is located on the Pineland Farms campus in New Gloucester, Maine. Unity is also known as “America’s Environmental University” and is a founding member of the Intentional Endowments Network.

J.P Morgan Chase and the Finance Committee of the Board of Trustees manage the University’s $18 million-dollar endowment. In 2012, the University’s Board of Trustees voted unanimously to fully divest from fossil fuels, making them the first institution of higher learning in the United States to do so. A report released by Unity’s finance officials showed that the University’s investment portfolio had exceeded performance expectations following the decision to divest.

“Unity Environmental University is proud to have been the first institution of higher education to divest its endowment from fossil fuel,” said President & CEO Dr. Melik Peter Khoury. “It was our goal to be the roadmap that showed other institutions this is possible. Now that universities like Harvard and Dartmouth, with their massive endowments, have followed our lead, we have seen fossil fuel divestment become a norm and turn into a $40+ trillion-dollar movement,” said Dr. Khoury.

In 2020, Unity was featured in the Intentional Endowments Network’s case study on ESG investing. The study found that schools using ESG investment strategies achieved returns that were comparable to, or better than, those using traditional investment approaches.

“This has been a great decision for Unity College as well as the environment. Since divesting, our portfolio has outperformed many indexes,” said Dr. Khoury.

Read the full study here.

Resources:

Unity Environmental University

Divested: The campus movement to shun fossil fuels

Unity Environmental University Celebrates Decade of Divestment