The aim of the article is to display the impact of sustainable development on the higher education policy, particularly on the “third mission” – the relation between the university and its environment. The article is based on a case study of Loyola University of Chicago. The paper consists of the following parts: the first part explains the challenges of sustainable development for universities, then selected elements of sustainable change at Loyola University of Chicago are shown; finally, in the last part, the paper examines ethical problems concerning sustainable change at universities.