Yale University has made progress in minimizing its endowment portfolio’s exposure to less environmentally sound investments such as stocks of companies that contribute to climate change, a letter released on Tuesday showed. Yale generally does not manage its own investment directly but hires outside money managers to make decisions. Nearly two years ago, the Yale University Investment Office asked the firms that managed its endowment, then $20.8 billion, to assess their investments. The office asked managers to avoid investments that did not take sensible steps to reduce greenhouse gas emissions. The Yale endowment, while not the largest, is closely watched by other universities and money managers who invest in publicly held companies.

April 12, 2016 ・ From The New York Times