The Lesley University Board of Trustees voted today to deepen its commitment to supporting the transition to a green future by taking additional steps to divest from fossil fuel holdings and prioritizing sustainability and environmental stewardship as central pillars in its recently announced Campus Plan.
This latest action continues Lesley’s leadership in addressing climate change. In 2015, the university was one of the first schools in the Boston area to divest from fossil fuel companies, eliminating $7.2 million in holdings, and subsequently continuing to reduce its exposure to fossil fuel companies and increasing its investments in renewable energy and incorporating ESG (environmental, social and governance) factors into its investment practices.
Going forward, Lesley will divest from any remaining direct investments and make no new direct investments in fossil fuel companies and will begin the process of divesting from indirect pooled investments and other funds with substantial fossil fuel holdings. In addition, the university will carefully evaluate new opportunities to support companies working on the transition to environmental sustainability and funds providing fossil fuel-free investments, while continuing to invest in renewable energy and energy efficiency.
The university recognizes that the investment portfolio is only part of the equation. Lesley will also make a significant impact through its physical campus. The university will improve and modernize facilities to reflect Lesley’s innovative approach and better integrate and use each of the campuses and their respective public spaces. Through these improvements, the university will identify measurable impacts such as overall campus energy use, water use and storm water management, daylighting, renewable energy sources and materials, and creating and protecting urban wildlife habitat.
On the operations front, the university already has made impressive strides in reducing its carbon footprint. Since 2006, Lesley has cut its greenhouse gas emissions by 90 percent by purchasing 100 percent renewable electricity certificates, increasing lighting efficiency, retrofitting heating and HVAC equipment, and taking other energy-saving actions. These reductions have been achieved despite Lesley having significantly increased the size of its physical footprint over the past decade with the construction of the Lunder Arts Center on Porter Campus and the acquisition of the former Episcopal Divinity School campus, now called South Campus. The university also has been recognized as a leader in reducing food waste.
Following the Board’s vote, Lesley President Janet L. Steinmayer said, “I am very proud that our Board has reaffirmed our shared commitment to greening both our campus operations and our investment portfolio. Addressing climate change is an issue that our community is very passionate about, and we look forward to engaging with students, employees, and alumni as we plan and implement extensive campus renovations over the next three to five years. In combination with divestment from fossil fuel companies, the significant investments we will be making to update our historic buildings and grounds demonstrate Lesley’s place as a leader in environmental stewardship.”
The full text of the statement the Lesley University Board of Trustees adopted on December 2, 2021, on “Supporting the Transition to a Green Future” follows:
Approach. Lesley University believes that addressing the risks of climate change and the role of fossil fuels in contributing to those risks is an ongoing process and one that includes the renovation of the campus as well as the composition of its investment portfolio. This is an update on this commitment, which will be an annual report to the community going forward.
Campus. As noted in the conceptual plans for the campus, environmental stewardship and sustainability are central pillars of the work imagined over the next three to five years. As part of this work, the university will define metrics for measuring its progress and report on those annually to the community.
Investment. In 2015, Lesley was one of the first schools in the Boston area to take action on divesting fossil fuel companies, divesting of $7.2 million in investments. Since then, among other things, the university has increased its investments in renewable energy, and incorporated ESG factors in its investment process. Lesley University is continuing its divestment initiative guided by the following principles:
- Divestment of any remaining direct investments in, and no new direct investments in, any company whose primary business is the exploration or extraction of fossil fuels (coal, oil, and natural gas) or any fund whose primary focus is fossil fuel companies.
- Divestment as soon as practicable from, and no new commitment to, commingled funds and mutual funds with substantial investments in fossil fuel companies, carefully evaluating opportunities to support companies working on the transition to environmental sustainability and funds providing fossil fuel-free investment opportunities.
- Divestment from indirect investments in fossil fuel companies held through multi-year commitments in private investment funds by not renewing or extending such commitments.
In addition, the university will continue to review and support prudent investments in renewable energy, energy efficiency, and other companies working toward environmental sustainability.
