Pitzer College and BlackRock, Inc. announced the first ever global equity index fund that is both Environmental, Social and Governance (ESG)-focused and fossil fuel-free. The fund is designed to help endowments, foundations and other nonprofit organizations meet their Responsible Investment goals. This new fund uses a disciplined, quantitative approach to incorporate ESG factors in its portfolio construction while maintaining zero exposure to fossil fuel companies. The fund was developed with assistance from leading index provider MSCI and investment consulting firm Mercer. As a major component of Pitzer’s $135 million endowment, the fund enables the College’s public equities portfolio to achieve: Full global diversification across developed and emerging markets, 100% divestment from fossil fuel stocks, an estimated MSCI ESG portfolio score of AA-, as compared to a BBB score for the benchmark MSCI All Country World Index (ACWI), an estimated 40% reduction in portfolio carbon intensity vs. MSCI ACWI, Estimated annual tracking error of 0.60% relative to MSCI ACWI, and Endowment management fee savings in excess of $200,000 per year.