The Funding 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 subsequent a number of years.

These investments are primarily in long-dated non-public 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 Accountability, fashioned with members of the Trojan group. It is going to overview moral and social issues raised by the USC group and advise the Funding Committee on key points that pertain to the endowment’s investments.

That is the best motion for USC.

Carol L. Folt

“I’m more than happy with the choice made by the funding committee and look ahead to working with the advisory committee on funding duty,” stated President Carol L. Folt. “That is the best motion for USC.”

No devoted fossil gas investments have been made in additional than two years because the funding deserves of the sector grew to become more and more unattractive. Additional, USC’s Funding Stewardship Coverage, a part of the endowment’s Funding Coverage Assertion, supplies that environmental, social and governance components will probably be thought of 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 robust returns whereas additionally upholding USC’s values, together with sustainability. We see this strategy as a option to develop our portfolio and help 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 sides of the college. USC is on the cusp of unveiling an environmental grasp plan that may information the college for the subsequent eight years towards formidable sustainability targets. Photo voltaic panels have already been put in on Galen Heart, college staff obtained reductions for bus and rail passes, 150,000 energy-saving LEDs now gentle the campus and USC is partnering with town of Los Angeles to develop an city forest throughout Eastside communities.

Extra tales about: Sustainability