| Overall Rating | Gold |
|---|---|
| Overall Score | 75.14 |
| Liaison | Kylee Singh |
| Submission Date | July 10, 2023 |
California Polytechnic State University
PA-9: Committee on Investor Responsibility
| Status | Score | Responsible Party |
|---|---|---|
|
2.00 / 2.00 |
Ericka
Scott Foundation Foundation |
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Does the institution have a formally established and active committee on investor responsibility (CIR) or equivalent body?:
Yes
The charter or mission statement of the CIR or other body which reflects social and environmental concerns or a brief description of how the CIR is tasked to address social and environmental concerns:
SOCIAL RESPONSIBILITY CONCERNING INVESTMENTS
I.BACKGROUND AND PURPOSE
A.The Board of Trustees of the California State University adopted a resolution urging its recognized CSU Auxiliary organizations to issue statements of social responsibility and to follow those precepts in examining past and considering future investment policies. In response to the Trustees’ resolution, the Cal Poly Foundation will endeavor to consider all relevant facts and circumstances in making investment decision, including the risks and opportunities of environmental, social and corporate governance features. The Cal Poly Foundation has a fiduciary responsibility to maximize investment returns on its endowment consistent with the level of risk while ensuring good stewardship of these assets that will enable continued financial support to further the educational mission of the University.
II.POLICY
A.The Foundation Board of Directors recognizes and accepts its social responsibility with respect to the investment of funds.
B.The investment policy and practices of the Foundation shall include Cal Poly Foundation
the evaluation of present and contemplated investments, not otherwise restricted in trust, in companies which do business abroad in the light of said responsibility.
C.Definitions. (1)“Socially Responsible Investing”, a term that is interchangeable with “Sustainable and Responsible Investing”, is an investment discipline that considers environmental, social, and corporate governance (ESG) criteria to generate long-term competitive financial returns and positive societal impact.
D.Reporting. (1)To ensure transparency, accountability and progress, the Investment manager will establish a reporting cycle with the Investment Committee.
III.REVIEW
A.The Investment Committee of the Foundation Board of Directors will review this policy five years from the most recent updated date to determine its effectiveness and appropriateness. The policy may be evaluated before that time as necessary to reflect substantial organizational, financial, or physical change(s) at the Foundation or any change required by law or by other governing policy.
I.BACKGROUND AND PURPOSE
A.The Board of Trustees of the California State University adopted a resolution urging its recognized CSU Auxiliary organizations to issue statements of social responsibility and to follow those precepts in examining past and considering future investment policies. In response to the Trustees’ resolution, the Cal Poly Foundation will endeavor to consider all relevant facts and circumstances in making investment decision, including the risks and opportunities of environmental, social and corporate governance features. The Cal Poly Foundation has a fiduciary responsibility to maximize investment returns on its endowment consistent with the level of risk while ensuring good stewardship of these assets that will enable continued financial support to further the educational mission of the University.
II.POLICY
A.The Foundation Board of Directors recognizes and accepts its social responsibility with respect to the investment of funds.
B.The investment policy and practices of the Foundation shall include Cal Poly Foundation
the evaluation of present and contemplated investments, not otherwise restricted in trust, in companies which do business abroad in the light of said responsibility.
C.Definitions. (1)“Socially Responsible Investing”, a term that is interchangeable with “Sustainable and Responsible Investing”, is an investment discipline that considers environmental, social, and corporate governance (ESG) criteria to generate long-term competitive financial returns and positive societal impact.
D.Reporting. (1)To ensure transparency, accountability and progress, the Investment manager will establish a reporting cycle with the Investment Committee.
III.REVIEW
A.The Investment Committee of the Foundation Board of Directors will review this policy five years from the most recent updated date to determine its effectiveness and appropriateness. The policy may be evaluated before that time as necessary to reflect substantial organizational, financial, or physical change(s) at the Foundation or any change required by law or by other governing policy.
Does the CIR include academic staff representation?:
Yes
Does the CIR include non-academic staff representation?:
Yes
Does the CIR include student representation?:
Yes
Members of the CIR, including affiliations and role:
FACULTY- Jenifer Jipson- Bio pending
STUDENT- Abegail Lara serves as the Student Director of the Cal Poly Foundation. Currently majoring in Business Administration with a concentration in Accounting, Abegail plans to continue her Cal Poly education in the graduate program within the Orfalea College of Business. Abegail has experience with Capital Market Accounting Advisory work and plans to become a licensed CPA following graduation. Serving as the president of the Latinx Business Student Association, she is passionate about leveraging clubs to connect talented Cal Poly students with industry partners.
STAFF- Marc Benadiba earned his bachelor’s degree in business administration at Cal Poly State University. He is the University Controller for Cal Poly State University, and was recently appointed to the Interim Treasurer position for the Cal Poly Foundation where he serves as an Ex officio board member. In his University Controller role, Marc is part of the Administration and Finance team, where he is responsible for managing the Student Financial Services Office, University Accounting and Reporting, and Payroll Services. Marc has been with Cal Poly State University for 15 years. Prior to that Marc worked 10 years in private and publicly held hi-tech companies in controller level positions, and worked in public accounting for three years focusing on tax and audit services. Marc is a Certified Public Accountant, speaks Spanish fluently, is married and has four children.
STUDENT- Abegail Lara serves as the Student Director of the Cal Poly Foundation. Currently majoring in Business Administration with a concentration in Accounting, Abegail plans to continue her Cal Poly education in the graduate program within the Orfalea College of Business. Abegail has experience with Capital Market Accounting Advisory work and plans to become a licensed CPA following graduation. Serving as the president of the Latinx Business Student Association, she is passionate about leveraging clubs to connect talented Cal Poly students with industry partners.
STAFF- Marc Benadiba earned his bachelor’s degree in business administration at Cal Poly State University. He is the University Controller for Cal Poly State University, and was recently appointed to the Interim Treasurer position for the Cal Poly Foundation where he serves as an Ex officio board member. In his University Controller role, Marc is part of the Administration and Finance team, where he is responsible for managing the Student Financial Services Office, University Accounting and Reporting, and Payroll Services. Marc has been with Cal Poly State University for 15 years. Prior to that Marc worked 10 years in private and publicly held hi-tech companies in controller level positions, and worked in public accounting for three years focusing on tax and audit services. Marc is a Certified Public Accountant, speaks Spanish fluently, is married and has four children.
None
Examples of CIR actions during the previous three years:
The Committee on Investor Responsibility is monitoring the performance of the Environmental and Social Governance (ESG) space on a quarterly basis. They request and review a report by Kaspick Investment Firm on the ESG fund and marketing performance.
Optional Fields
Additional documentation to support the submission:
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Data source(s) and notes about the submission:
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