Endowment Value: $14 million (May 2017)
Unity College is a private college with a student body of 700 located in Unity, Maine. The Spinnaker Trust and an Investment Committee, composed of three members of the board of Trustees, manages the endowment. Unity College is known as “America’s Environmental College” and is a founding member of the Intentional Endowments Network.
In 2012, the Unity College 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 UC’s finance officials showed that the college’s investment portfolio had exceeded performance expectations following the decision to divest. “Divestment has had no negative effect on our endowment portfolio,” said former Unity College President Dr. Stephen Mulkey, a leader in the growing campus divestment movement. “Divesting from fossil fuels is not a concession that means you automatically have a lower rate of return over the long run,” said Mulkey.
In 2020, Unity College was featured in the Intentional Endowment Network’s case study on ESG investing. The study revealed that schools employing ESG investing practices saw the same or better returns as schools employing a traditional approach to investing. Read the full study here.
Unity College is a participant or member of the following Initiatives & Commitments:
- AASHE STARS: Yes, Gold
- ACUPCC: Yes, Carbon Neutral by 2025
- Billion Dollar Green Challenge: Yes
- CDP: Yes
- Committee on Investor Responsibility: Yes
- Divestment Goal: Yes, full
- INCR: No
- Montreal Carbon Pledge: No
- Sustainable Investment Fund: Yes, Green Revolving Fund
- Sustainable Investment Policy: Yes
- Principles for Responsible Investment: No
Other Sustainable Investing Practices: