Yale divested in certain U.S. companies that operated in South Africa during apartheid, and more recently adopted proxy voting guidelines with respect to tobacco companies and private prisons.
In 2014, David Swensen, Yale’s chief investment officer, wrote to the fund’s external investment managers, asking them to assess the costs of climate change on their investments following a university-wide effort to address sustainability. Managers sold less than $10 million in investments that were “inconsistent with our principles,” the school said in 2016.
This article was provided by Bloomberg News.