If you guessed that the University of California system would champion “sustainable” investing, you’d be correct. The catch is, the shelves in the sustainable investing aisle aren’t especially well-stocked with opportunities.
U.S. college endowments altogether hold more than $500 billion in assets, a growing part of which they’ve allocated to sustainable or “impact” investing. Yet they also face something of a paradox: Where, exactly, does one invest that money? The easy answer, and one popular among smaller endowments, is to buy funds of stocks deemed green.
