Harvard University and Stanford University are among 15 North American universities to be awarded an ‘A-‘ rating – the highest ever achieved – for the sustainability of their endowment investments and campus operations.
GreenReportCard.org, which allows users to compare the green credentials of 300 schools throughout the continent, has in its latest report named 15 ‘college sustainability leaders’.
Among the best in class is Harvard University’s $36.9 billion (€25.2 billion) endowment, which earlier this month posted an 8.6 percent return for the fiscal year ending 30 June.
The university’s affiliated fund management agency Harvard Management Company recently underwent a change of leadership. Mohammed El-Erian stepped down in December 2007 to be replaced by Robert Kaplan on an interim basis. Kaplan was subsequently replaced this July by HMC veteran Jane Mendillo.
Stanford University – whose endowment yesterday posted a 6.2 percent return for the fiscal year ending June 30, bringing its total value to $20.4 billion – also achieved the top grade, as did the University of British Columbia, whose endowment is worth more than $1 billion.