To the ÐÇ¿Õ´«Ã½ Community:
As university president, it is important to me that our actions align with our mission to be a high-impact research university where humanity, science and technology meet to create a just and thriving world.
To that end, the Board of Trustees and I jointly uphold the commitment made by my predecessor, Interim President Scott Cowen, to completely divest the ÐÇ¿Õ´«Ã½ endowment of fossil fuel-related investments.
At this time, the endowment has completely divested from fossil fuel exposure on the public side of the portfolio. Due to contractual obligations on the private side of the portfolio, it could take several years to fully divest from our private holdings. The remaining fossil fuel exposure on the private side of the portfolio is approximately $50 million, or 2.5 percent of our total endowment.
It is important to note that the university has not made a new fossil fuel investment since 2017. In addition, we will not make any future investments in fossil fuel companies and in funds that include fossil fuel-related investments.
I want to thank the members of our ÐÇ¿Õ´«Ã½ community for their advocacy on this important issue.
Sincerely,
Eric W. Kaler
President