On a vote of 69 in favor and 22 opposed, the Academic Senate on April 26, 2021 approved the Ad Hoc Committee’s overall recommendation to realign the University’s endowment toward positive sustainability investments, including eight implementing recommendations. The matter now goes to the University Board of Trustees for consideration. The eight recommendations may be summarized as follows:
Recommendation 1: Divest from CU200 companies within one year.
Recommendation 2: Sell all private equity holdings from upstream and midstream companies within 10 years.
Recommendation 3: The University will reinvest the divested funds in positive sustainable investments.
Recommendation 4: Where possible, the University should retain fund managers that will advocate for pro-sustainability company policies.
Recommendation 5: The University will update its Investment Pool Guidelines to reflect the recommendations.
Recommendation 6: The University shall make regular progress reports on the divestment actions.
Recommendation 7: The University’s Chief Sustainability Officer will be added to the Investment Advisory Committee
Recommendation 8: The University will establish a transition management team to assist in managing unintended consequences from realignment.
Please read the full Committee report here.