Climate Change & the Smith Endowment
In 2017 and 2019, the Smith College Board of Trustees made significant advances regarding climate change and the Smith endowment. The board’s decisions followed a recommendation of the Study Group on Climate Change (SGCC) to align more closely our investments with our values.
The endowment is invested in a manner consistent with and supportive of the College’s mission and values. Smith has implemented several policies designed to support the College’s commitment to environmental sustainability:
- Smith has committed to invest $30 million in impact investments intended to generate measurable social and environmental change alongside an attractive risk-adjusted return. Examples of such investments might be industries and funds focused on sustainable agriculture, renewable energy, energy efficiency, conservation, affordable and accessible services, and sustainable manufacturing processes.
- Smith has ceased all new investments with fossil fuel-specific managers. Furthermore, the College has undertaken a phaseout of all current investments with fossil fuel-specific managers in the endowment. This phaseout will be achieved through the sale, maturity or liquidation of investments held by fossil fuel-specific managers. A fossil fuel-specific manager is one whose main strategy is acquiring, developing, producing or exploring for oil/gas; coal mining; or providing oil and/or gas equipment, services and/or pipelines; or that is an investment fund whose primary purpose is to invest in such issues or engage in any such business itself.