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The Investment Committee of the USC Board of Trustees voted on Feb. 4 to freeze making new investments in fossil fuels and to liquidate present fossil gas investments over the following a number of years.
These investments are primarily in long-dated personal partnerships, that are illiquid in nature. As such, the liquidation course of will take a number of years to handle in a financially prudent method.
The college additionally will create an Advisory Committee on Funding Duty, shaped with members of the Trojan neighborhood. It is going to evaluate moral and social issues raised by the USC neighborhood and advise the Funding Committee on key points that pertain to the endowment’s investments.
That is the correct motion for USC.
Carol L. Folt
“I’m very happy with the choice made by the funding committee and sit up for working with the advisory committee on funding accountability,” stated President Carol L. Folt. “That is the correct motion for USC.”
No devoted fossil gas investments have been made in additional than two years because the funding deserves of the sector turned more and more unattractive. Additional, USC’s Funding Stewardship Coverage, a part of the endowment’s Funding Coverage Assertion, offers that environmental, social and governance components will probably be thought-about when making all new investments. College students and college have lengthy been advocates for such actions.
“Going ahead, our new funding insurance policies reinforce USC’s dedication to generate sturdy returns whereas additionally upholding USC’s values, together with sustainability. We see this method as a method to develop our portfolio and assist clear, new applied sciences for the twenty first century,” stated Amy Diamond, USC’s chief funding officer.
That is a part of a wider effort to make sustainability practices a precedence throughout all aspects of the college. USC is on the cusp of unveiling an environmental grasp plan that can information the college for the following eight years towards bold sustainability objectives. Photo voltaic panels have already been installed on Galen Center, college staff acquired discounts for bus and rail passes, 150,000 energy-saving LEDs now gentle the campus and USC is partnering with town of Los Angeles to grow an urban forest throughout Eastside communities.
Extra tales about: Sustainability
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