A college in the Northeast will begin the immediate phaseout of all current investments with fossil fuel-specific managers in its endowment and will exclude all future investments with fossil fuel-specific managers.
The National Association of College and University Business Officers (NACUBO) “is keenly focused on the importance of diversity in asset management positions, as well as diversity in the business officer profession as a whole,” according to a letter from President and CEO Susan Whealler Johnston in response to a letter from six members of Congress that requested the association take a closer look at diversity in endowment management.
Geri Melchiorre is the director of investments for the $731 million University of Illinois. She took the time to take part of FIN News’ new 5 question feature.