Overall Rating Gold
Overall Score 66.75
Liaison Victor Udo
Submission Date Nov. 18, 2022

STARS v2.2

Bucknell University
PA-10: Sustainable Investment

Status Score Responsible Party
Complete 3.29 / 5.00 Angela Motto
Office of Investment
"---" indicates that no data was submitted for this field

Total value of the investment pool:
1,160,000,000 US/Canadian $

Value of holdings in each of the following categories:
Value of holdings
Sustainable industries (e.g., renewable energy or sustainable forestry) 0 US/Canadian $
Businesses selected for exemplary sustainability performance (e.g., using criteria specified in a sustainable investment policy) 0 US/Canadian $
Sustainability investment funds (e.g., a renewable energy or impact investment fund) 14,000,000 US/Canadian $
Community development financial institutions (CDFIs) or the equivalent 0 US/Canadian $
Socially responsible mutual funds with positive screens (or the equivalent) 270,000,000 US/Canadian $
Green revolving funds funded from the endowment 0 US/Canadian $

A brief description of the companies, funds, and/or institutions referenced above:

The holdings in sustainable investment funds include all private strategies focused on developing and operating renewable energy, sustainable forestry, sustainable farming investments, and provide solutions for social good, i.e. workforce/affordable housing.

The holdings in socially responsible funds includes public positions in actively managed commingled or mutual funds that incorporate positive screening techniques, active company engagement, and have made commitments to corporate social responsibility across their strategies. Included are only those managers that have all three: DE&I policy, ESG Policy and are a member of the UNPRI.

Percentage of the institution's investment pool in positive sustainability investments:

Does the institution have a publicly available sustainable investment policy?:

A copy of the sustainable investment policy:
The sustainable investment policy:

The Sustainable Investment Framework is a working document that establishes the role ESG plays, how it is incorporated, and measured within the investment strategy. The role of the Investment Committee is foremost to serve as a fiduciary:to maintain the real purchasing power of the Endowment through investing with the objective of maximizing long-term return with appropriate consideration of risk. In line with its mission as an academic institution committed to active citizenship, the University thoughtfully considers environmental, social, and corporate governance issues as part of its investment process. The consideration of such factors is incorporated in varying manners across decisions made by the Investment Committee.

Does the institution use its sustainable investment policy to select and guide investment managers?:

A brief description of how the sustainable investment policy is applied:

The approach to ESG considerations for the management of the Endowment is governed by an ESG Framework adopted in April 2021. The ESG Framework defines ESG for the Endowment, the role it plays, how it is incorporated and measured within the investment strategy and delineates responsibilities for the collaboration of all parties: Investments Committee, Sub-Committee, Investment Office, Strategic Advisor and Investment Advisor(s).

The ESG sub-committee is responsible for the oversight and recommendation of ESG investments sourced by the Investment Office or Investment Advisor(s) and that satisfy the ESG definitions to which the ESG Framework was established.

The investment due diligence process includes an evaluation of manager's approach to incorporating ESG risk factors into their strategies and investment processes. This analysis is codified as a distinct section in every investment memo and contributes to our selection process for adding new managers across all asset classes. Ongoing monitoring of existing investment managers provides additional conversations and new developments within active engagement and discussions specific to the asset class.

Has the institution engaged in proxy voting, either by its CIR or other committee or through the use of guidelines, to promote sustainability during the previous three years?:

A copy of the proxy voting guidelines or proxy record:

A brief description of how managers are adhering to proxy voting guidelines:

We do not currently have a formal proxy voting policy in place, but we do maintain a process of collecting the proxy voting records for our managers and reviewing them individually as part of our ongoing monitoring process for those external managers.

Has the institution filed or co-filed one or more shareholder resolutions that address sustainability or submitted one or more letters about social or environmental responsibility to a company in which it holds investments during the previous three years?:

Examples of how the institution has engaged with corporations in its portfolio about sustainability issues during the previous three years:

We have not directly filed any shareholder resolutions, however our external investment managers engage with companies on social and/or environmental issues.

Does the institution participate in a public divestment effort and/or have a publicly available investment policy with negative screens?:

A brief description of the divestment effort or negative screens and how they have been implemented:

A portion of our private portfolio requires the exclusion of investments related to arms-related, violation of human rights, irresponsible treatment of the natural environment, or other non-ethical conduct of business. When fully implemented the screens will apply to approximately 10%.

Approximate percentage of endowment that the divestment effort and/or negative screens apply to:

Does the institution engage in policy advocacy by participating in investor networks and/or engage in inter-organizational collaborations to share best practices?:

A brief description of the investor networks and/or collaborations:

We have engaged external constituents in formal collaborations to share ideas and best practices. Within the past year, we have engaged with a private equity firm that has a strong alliance with the UN Sustainable Development Goals and holds a board seat within the UNPRI and a long history of investment and advocacy in the ESG space. The wealth of knowledge of this new relationship will guide and improve upon our policy, reporting, metrics, and investment strategy. We further work with a strategic adviser, who is a member of UNPRI and engages in external conversations with leaders. Our active conversations with this strategic adviser provide them with various topics to consider in their external conversations.

Website URL where information about the institution’s sustainable investment efforts is available:
Additional documentation to support the submission:

A Sustainable Future
Bucknell University empowers the education of bright, determined leaders every day. In 1846, the University’s founders made a commitment to unlock opportunities for individuals whose desire for change fuels their learning. That commitment remains the focus of University leadership as they guide the continual quest to create sustainable, equitable access to Bucknell. The Bucknell University endowment serves as a base for ongoing support, directly enabling future-focused
strategic efforts for growth and distinction. Endowment funds support scholarships, professorships, academic programs, athletics, the Bertrand Library, facilities and capital improvements, and the general operations of the University. Opportunities exist for new funds to be developed that specifically target student well-being and the whole student experience. And it all combines to extend the generosity of donors from the past and present to create a sustainable, confident future. Donors who give with the future in mind know that they are contributing to the continuance of Bucknell’s mission: to educate students for a lifetime of critical thinking and strong leadership characterized by continued intellectual exploration, creativity and imagination.

The information presented here is self-reported. While AASHE staff review portions of all STARS reports and institutions are welcome to seek additional forms of review, the data in STARS reports are not verified by AASHE. If you believe any of this information is erroneous or inconsistent with credit criteria, please review the process for inquiring about the information reported by an institution or simply email your inquiry to stars@aashe.org.