Brown University students and leadership are helping the university to invest in social- and sustainable-focused prospects through the creation of a new fund.
The Brown University Sustainable Investment Fund was initiated by students with efforts from faculty and senior administrators. According to the announcement, this fund will be a priority for the Brown Together capital campaign, aiming to raise $3 billion in donations.
There is no minimum donation requirement for this fund, which varies from other endowed funds with a minimum donation $100,000.
“This creates an option for donors to do good with their money at Brown and also beyond Brown,” Investment Office Intern and 2016 graduate Sophie Purdom said. “There’s no minimum investment required, so suddenly the endowment becomes accessible to anyone. The launch of this fund is a win for everyone and plants a stake in the ground for Brown as a leader in sustainable investing.”
Purdom played a key role in the development of the SIF. The fund was initiated in part by direction given to the Investment Office by Brown University President Christina Paxson. Brown’s investments are handled through fund managers. For the SIF, companies and firms would need to be aligned with sustainable values.
“We had two goals: to establish a giving option for the Brown community focused on sustainability and also to meet the imperative of achieving superior financial performance to fund the priorities of the university,” Managing Director of the Investment Office Jane Dietze said.