Actions by the University of Vermont Board of Trustees

Fossil Fuel Divestment Report & Recommendation (PDF): A resolution to divest the university's endowment of fossil fuel investments by July 2023. July  14, 2020 (press release)

  • As of July 14, 2020, the University will immediately end new direct investment in fossil fuels, will fully divest from public investments in fossil fuels by July 2023 and will allow pre-existing multi-year private investments, which it stopped acquiring in 2017, to lapse without renewal. UVM will continue investing in opportunities that focus on sustainability, climate change mitigation, and other Environmental, Social and Governance, or ESG, issues. And it will accelerate an engagement campaign with managers of its commingled funds, asking that they factor the financial risks of climate change into their investment decision-making process and share their framework for doing so with UVM.

In fall 2019, investments in the green bonds portfolio was doubled, to $20 million.

During the spring 2018 semester, SRIAC members researched options available for increasing the positive impacts of $10 million of the University’s invested operating reserves at the request of Vice President for Finance Richard Cate.

  • A recommendation was made to Vice President Cate in May after several presentations, meetings with experts in the investment field, and substantial research. Graduate students in the Sustainable MBA Program at the Grossman School for Business advised SRIAC members throughout the development of a strategy.
  • Following recommendations from the SRIAC and the support of the VP for Finance, the University moved forward with a green bond strategy to improve the environmental, social and governance (ESG) metrics of a portion of UVM’s operating reserves. This positive investing strategy targets companies with outstanding efforts towards gender equity, clean water investments and clean energy investments.

In 2017, after debate at a public meeting, the Board of Trustees rejected a call for divestment from coal companies.

Coal Divestment Statement (PDF): The Investment Subcommittee released this statement in response to the SRI Advisory Council's recommendation to divest the endowment from coal. February 5, 2016

In 2013 the Board of Trustees rejected a formal proposal for divestment from fossil fuels.

Cluster munitions & depleted uranium divestment (PDF): A resolution to vote in favor the University divesting from companies that are materially engaged in the manufacture of cluster munitions as defined by the Oslo Treaty of December 2008, and, military equipment and/or weapons containing depleted uranium. May 16, 2009

Proxy voting in favor of climate action change (PDF): A resolution to vote in favor of shareholder proposals that address climate change by calling for specific actions, reports or disclosures. May 17, 2008

Sudan divestment (PDF): A resolution to vote in favor of implementing a policy of targeted divestment from companies doing business with or otherwise aiding the governing regime of Sudan based on the model developed by the Sudan Divestment Task Force to the fullest extent possible consistent with its fiduciary responsibilities. May 20, 2006

Discrimination in employment (PDF): A resolution to vote in favor of shareholder proposals that bar discrimination based on sexual orientation. May 22, 2004

Tobacco divestment (PDF): A resolution to vote in favor of the Investment Committee of the Board divest of tobacco by adopting a tobacco-free mandate for its endowment wherever possible. August 19, 2000

Proxy Voting Results and Procedures

Each spring,  the University takes proxy votes on increasing actions to mitigate and report on climate change impacts, the reduction of tobacco use and advertising, reducing discrimination in employment and against the development of anti-personal landmines.

Proxy Voting Results

Proxy Voting Procedures