Financial endowment

=== Divestment campaigns and impact investing ===
{{See also|Disinvestment|Impact investing}}
Another approach to reforming endowments is the use of [[divestment]] campaigns to encourage endowments to not hold unethical investments. One of the earliest modern divestment campaigns was [[Disinvestment from South Africa]] which was used to protest apartheid policies. By the end of apartheid, more than 150 universities divested of South African investments, although it is not clear to what extent this campaign was responsible for ending the policy.<ref>{{cite magazine | title =Does Divestment Work |magazine= The New Yorker | date =October 20, 2015 |url=https://www.newyorker.com/business/currency/does-divestment-work }}</ref>

A proactive version of divestment campaigns is [[Impact investing|impact investing, or mission investing]] which refers to investments "made into companies, organizations, and funds with the intention to generate a measurable, beneficial social or environmental impact alongside a financial return."<ref>{{cite web|title=2017 Annual Impact Investor Survey|url=https://thegiin.org/assets/GIIN_AnnualImpactInvestorSurvey_2017_Web_Final.pdf |archive-url=https://web.archive.org/web/20160902224437/https://thegiin.org/assets/GIIN_AnnualImpactInvestorSurvey_2017_Web_Final.pdf |archive-date=2016-09-02 |access-date=2017-03-14 |publisher=The Global Impact Investing Network}}</ref> [[Impact investment]]s provide capital to address social and environmental issues.