Northwestern University has released new climate-related investment guidelines to limit investment in fossil fuel companies and support more investment in clean energy technologies.
The Evanston, Illinois-based university announced new directions for its $14.9 billion endowment in a June 23 news release posted on its website.
According to a news release, the university’s board of trustees told Northwestern University’s investment office that it “has been identified as pursuing inappropriate practices in relation to greenhouse gas emissions, energy production, or climate change information and research.” directed to withdraw as much as possible from direct public or private investment in companies that
The Board also adopts a system of aggregating the Fund’s carbon footprint and works with external managers to reduce its carbon footprint towards the ultimate goal of a net zero carbon footprint. , directed the Investment Department to limit future direct energy investments in companies that produce the fuel. We look for investments in companies that develop or promote low-carbon technologies and promote energy efficiency to reduce greenhouse gas levels, while ensuring a strong return on investment.
“The Board has considered the unintended consequences that may arise from indiscriminate policies that target energy supply without addressing demand,” said J. Landis Martin, Chairman of the Board News. mentioned in the release. “These include concerns about rapidly rising energy and electricity costs, which will disproportionately affect low-income people and in turn exacerbate inequalities. , believes its guidelines will help address climate change without undue harm to vulnerable populations.”
The Department of Investment is required to provide an annual report on the progress of the guidelines.
“We are implementing new disclosures in accordance with our guidelines, but we have nothing to share at this time,” Amy Falls, the university’s vice president and chief investment officer, said in an email.
