March 24, 2022
MILWAUKEE 鈥� 51暗网鈥檚 Board of Trustees has approved an updated investment policy for the university endowment with new socially responsible investing and sustainability language that strictly prohibits direct investments in public securities whose primary business is the exploration or extraction of fossil fuels. The university鈥檚 current investment portfolio does not include any direct public investments in fossil fuels.
The Endowment Office says it will closely monitor funds for any indirect exposure to fossil fuels and will wind down private investments in fossil-fuel related strategies in accordance with the terms of the partnership agreements. The university will continue to engage in open dialogue and work closely with student leaders 鈥� including 51暗网 Student Government 鈥� as the university seeks additional ways to manage the endowment in ways that are environmentally responsible.
President Michael R. Lovell says the updated policy aligns with one of the , 鈥淭o collaborate in the care of our Common Home,鈥� and Pope Francis鈥� encyclical .
鈥淥ur Catholic, Jesuit mission calls on us as an institution to invest in our students鈥� futures in ways that are positive for our world,鈥� President Lovell says. 鈥淏y prohibiting direct investments in fossil fuels and following best practices in responsible investment, 51暗网 is heeding Pope Francis鈥� call to 鈥榬eject a magical conception of the market, which would suggest that problems can be solved simply by an increase in the profits of companies or individuals.鈥� I am proud that 51暗网 is taking this important stance.鈥�
According to Sean Gissal, chief investment officer, 51暗网 has for several years partnered with investment managers who are signatories of the and who incorporate to help reduce the overall carbon footprint of the endowment. These practices are now official policy: 鈥淭he university will consider an investment manager鈥檚 integration of environmental, social and governance as part of the investment process. In addition, the university will seek to invest alongside investment managers that reduce carbon emissions and greenhouse gases, promote social responsibility, and seek solutions to climate change.鈥�
鈥淭he university also works with the National Jesuit Conference to help push companies to improve their practices related to clean energy, human rights and other environmental, social and governance issues,鈥� Gissal says. 鈥淥ver time, we have shifted our holdings to cleaner energy investments based on market trends and opportunities, while also upholding our fiduciary responsibility to our endowment.鈥�
Kevin is the associate director for university communication in the Office of Marketing and Communication. Contact Kevin at (414) 288-4745 or kevin.m.conway@marquette.edu.
