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A message about Penn’s endowment and sustainability
November 29, 2022
The world gathering in Egypt for COP27 reminds us of the urgency of our collective fight against climate change. Faculty, student, and staff attendees from Penn represent the energy and talent that so many Penn community members contribute to this crucial effort. This is an opportune moment to share our thoughts on the role of Penn’s endowment in combatting climate change. The complexity of the issue and the urgency of the climate challenge merit a thoughtful consideration and explanation of Penn’s policies.
Penn’s endowment exists to provide long-term support for Penn’s educational mission. This year, Penn will spend a record $960 million from its endowment to support student financial aid, faculty salaries, faculty teaching and research, Penn’s health system, and countless other programs that rely heavily on endowment spending. While the core purpose of Penn’s endowment is to provide this financial support, some have argued that large endowments should play a role in mitigating climate change and, in particular, that fossil fuels do not have a place in university endowments.
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Climate & Sustainability Action Plan 4.0 FY25 Progress Report Released
Penn has released the
Climate & Sustainability Action Plan (CSAP4.0) FY25 Progress Report
. The report, the first of five that the University has committed to publishing between FY25 and FY29, shares actions the University took over the last fiscal year to advance goals set out in its
Climate & Sustainability Action Plan 4.0
(CSAP 4.0), the University’s roadmap to addressing environmental challenges over the next five years.