It comes as the Australian National University has been subject to growing pressure from student groups to get rid of its stake in polluting industries.

The Asset Owners Disclosure Project asked the Group of Eight universities, including the ANU, to detail their plans to deal with financial risks posed by climate change.

The project is a non-profit group with the stated aims of ranking the universities so they can understand their market position in regards to climate change risk and helping them move towards more low-carbon investments.

Its board members include ANU professor and former federal Liberal Party leader John Hewson and former head of risk at Goldman Sachs Bob Litterman.

An email from Monash University chief financial officer David Pitt to vice-chancellor Ed Byrne, which was accidentally leaked, appears to show a reluctance to allow outside analysis of financial risks.

Mr Pitt recommended Professor Byrne ignore the project's request, expressing concern the university may not score well.

''Better not to respond so this group would have to rely on public information and we would simply be in a position to say that we are unaware of their scoring and did not participate,'' he wrote.

''We have discussed this area at a recent Go8 CFO meeting and most have not entertained letting others judge their efforts in this way.''

Dr Hewson hit out at the universities, saying they were entrusted with other people's money and had a duty to avert the financial risks posed by climate change.

He called on them to reveal their current positions and commit to moving towards more sustainable investments for their endowments.

''We have suspected for some time that these universities and other institutions are putting long-term stakeholder capital at risk by relying on short-term markets - how quickly they seem to have forgotten the sub-prime chaos,'' he said. Tom Swann, spokesman for the Fossil Free ANU student group, criticised the ACT university. ''Even if you don't think they have an ethical obligation to divest, even if you're not convinced by that, surely they have an obligation to be transparent about how they are managing risk to their university finances,'' he said.

An ANU spokeswoman said the university had not yet responded to the project's request.

''The issue of responsible investment has been one of considerable debate by the ANU Council, with strong representation by ANU students arguing the case for a transparent and accountable policy,'' she said. ''In October last year the ANU Council approved a socially responsible investment policy, and we are currently in the process of implementing that policy.''

Monash spokeswoman Stacey Mair said the university had not yet made a decision on whether to consider the project's study.

She said Monash utilised large and well-known fund managers with diversified investments to ensure it met its obligations and objectives.