A group of 77 institutions is coming together in an effort to invest their money more ethically. The goal is to use their endowments to support environmental and social causes -- without sacrificing their own financial returns.
The coalition operates under a group called the Intentional Endowments Network. The group helps institutions invest their endowments in socially conscious ways, taking into consideration issues like climate change and human rights abuses.
For the most part, the new network is focused on keeping its members informed. For instance, it will help institutions use their endowments to support the Paris climate agreement.
But -- much like the Paris climate agreement -- joining the coalition requires no binding commitment. The members share goals but have made no concrete promises.
The group is intended to be a learning network, Georges Dyer, a principal of Intentional Endowments Network, said in an email. Institutions involved will have access to resources and industry experts, but will not need to commit to a course of action.
“It is up to the members to determine what actions they might take to update their investment policies or practices,” he said.