RMIT was established in 1887 as the Working Men’s College, aiming to bring education to the working people of Melbourne. In 1992, the college was granted university status under State legislation, adopting the name of RMIT University.

RMIT has three campuses across Melbourne. As a global university, RMIT has two additional campuses, a language centre in Vietnam and a research and industry collaboration in Barcelona, Spain.

With a total enrolment of 95,000 students and 12,00 staff (2021), RMIT is Australia’s largest dual-sector education institute. RMIT offers postgraduate, undergraduate, vocational education and online programs.

To express commitment to transform RMIT into an organisation that models institution-wide excellence in shaping a sustainable future, RMIT publicly committed to the UN Sustainable Development Goals (SDGs) in 2017. The RMIT Sustainability Policy was updated in 2020 to strengthen the connection between sustainability and reconciliation and deepen the University’s commitment to the SDGs. Additional clauses were also added to bolster governance, provide greater transparency and address modern slavery risks.

RMIT worked alongside external investment managers to launch a new sustainable investment solution. The Russell Investment ‘Sustainable Global Shares Fund ex Fossil Fuels’ has reduced exposure to carbon emissions and excludes companies with fossil fuel reserves and significant involvement in fossil fuels.

In 2020, RMIT became the first higher education institution in Australia to use an innovative format of debt financing that rewards RMIT for meeting sustainability performance targets. The AU$100 million three-year sustainability-linked loan focuses on two sustainability performance targets – The University’s CO2 emissions and water consumption, providing a pricing benefit or penalty according to its performance against agreed targets over the life of the facility.

RMIT continues its leadership role on climate actions as the University progresses to be carbon neutral by 2030. At the close of 2020, RMIT reported a 62% reduction in emissions compared to 2007 levels.

RMIT embraces the task of extending the benefits of a fast-innovating, high-skill knowledge economy to our whole community and our world. We are dedicated to helping shape a new urban and industrial renaissance in the global economy.

We are driven by impact and focused on the challenges and opportunities emerging around us.

As the world economy transforms, we have a responsibility to make the resulting changes work for the whole of society.

RMIT The Group receives funds from the Australian Government and State and Local Government to assist with education programs across a wide range of disciplines and at different education qualification levels. Apart from the sources received from Government, the Group also receives funds and fees from private organisations or individuals that are used for the different programs led by the Group or correspond to the education services provided by the Group.

The main sources of revenue for RMIT in 2020 were:

• Australian government financial assistance including HECS-HELP and FEE-HELP
• State and local government financial assistance
• Course Fees and chargers
• Consultancy, contracts and continuing operations

More details on RMIT’s revenue streams are contained in its Annual Reports which can be found here.