Goddard College, Plainfield, Vt., is divesting its $1 million endowment of fossil-fuel holdings, said spokeswoman Samantha Kolber.
The funds are in the process of being transferred to Trillium Asset Management, a new manager, Ms. Kolber said.
Ms. Kolber could not immediately provide additional information on Trillium’s strategy, including the allocation size.
“The divestment from fossil-fuel company investments is one action in Goddard College’s long history of taking ‘imaginative and responsible action in the world,’” the university’s interim president, Robert Kenny, said in a news release. “The college’s recent efforts to reduce its carbon footprint have led to a number of energy-saving activities. … This divestment is a logical extension of those efforts, and we are proud to finalize its implementation.”
Divestment was recommended by the university’s sustainability team, of which Mr. Kenny is a member, and was ultimately approved by the university’s board of trustees.
Goddard College is the third college in Vermont to divest from fossil-fuel companies, joining Sterling College, Craftsbury, and Green Mountain College, Poultney, according to the news release. Green Mountain had a $3.4 million endowment as of Nov. 30, according to its website, and Sterling, about $1 million as of June 30, according to an annual report.