Stanford University
IN-48: Innovation B

Stanford has become the first U.S. college or university to issue bonds carrying dual climate and sustainability designations for financing campus construction and renovation projects. The university’s use of emerging green, social and climate bond designations signify Stanford’s commitment to sustainability, inclusion and student access to education.

The bonds are rooted in the university’s commitment to environmental stewardship and social responsibility standards over years of foundational work to expand the university’s shift toward renewable energy sources and programs to balance social equity.

The result is a wide-ranging series of initiatives to address critical challenges – from energy-management projects placing the institution on a path toward zero emissions to presidential initiatives that boost diversity in education and research – that are now helping shape the way campus projects can be financed.

“ESG financing provides the multi-pronged benefits of greenhouse emission reductions, health equity research, affordable housing, and systemic and academic equity,” Treasurer Ma said. “I hope more California colleges will follow Stanford’s lead.”

For the environmental sustainability requirements, Stanford demonstrated efforts both for buildings and infrastructure and in broader policies and plans that together accelerate the university’s transition to net-zero greenhouse gas emissions by 2050.

Among these initiatives are a new school that will focus on climate and sustainability and Sustainable Stanford, which leads the university-wide effort to reduce environmental impact, preserve resources and lead sustainability by example. It also administers the My Cardinal Green sustainability incentive program and provides visibility into these efforts through reporting of metrics.

For the social responsibility designation, Stanford noted the cross-campus IDEAL (Inclusion, Diversity, Equity, Access in a Learning Environment) among a range of initiatives aimed at improving diversity, equity and inclusion. The initiatives advance affordable on- and off-campus housing; healthcare access for marginalized populations in the United States and internationally; and increase diversity and opportunities for medical students and healthcare professionals.