College of the Atlantic
PA-8: Committee on Investor Responsibility

The sustainable investment committee manages the college's sustainable investment fund and provides an educational experience for COA students such that they will work to: • Understand what constitutes sustainable investments • Refine the College’s definition of sustainable investments through analyzing businesses’ environmental and social impact • Understand basic investment strategies, including the impact of risk • Compare the performance of sustainable versus traditional investments • Support businesses that demonstrate social and environmental stewardship • Gain knowledge by utilizing firsthand experience to research, analyze, choose, monitor and report the fund’s investments

Committee membership is open to college students, faculty, and staff. The committee works closely with the trustee finance and investment committees. Current membership includes students, Andy Griffiths (COA's administrative dean/CFO), and Jay Friedlander (faculty member, Sharpe-McNally Chair of Green and Socially Responsible Business). The committee is chaired by one of its student members.

The committee was first convened in January 2015. With the receipt of a $15,000 donation to launch the sustainable investment fund, the committee researched and developed sustainability criteria to invest the funds. The committee collectively decided on investments with advice from a local bank. In the past two years, the committee has developed more structured negative and positive screens for the investment fund. As a result, the committee has reinvested in funds that align more accordingly with the investment fund standards. Investment criteria: The committee seeks out companies and funds that are leaders in their field according to environmental, social and governance (ESG) criteria, with priority given to sustainable industries and companies with transformative potential to green their industry. Assets are restricted from being invested in weapons, tobacco and companies whose primary business involves the extraction, refining or combustion of fossil fuels. The committee is additionally interested in investing in companies advancing the transition away from fossil fuels through renewable energies and sustainable transportation. The fund searches for investments that meet as many as possible positive screen criteria by exemplifying best-in-class practices. Outline of positive screens: Environmental: Advancing and/or practicing energy efficiency Low greenhouse gas emissions Minimized air pollution Limited contamination of waterways and oceans Sustainable land-use and reduction of ecological encroachment Effective material conservation and sustainable waste practices Social: Treatment of employees and relationship with labor Observance of the right to organize, and health and safety standards Community relations, specifically communities impacted by company activities Observance of human rights and fair labor standards, including child labor restrictions Governance: Transparent reporting Fair executive compensation, with regards to median worker pay Strong shareholder rights Disclosure of lobbying activities, including through third party organizations Show intent and credible plan for advancing sustainable goals Sustainable industries: The committee defines sustainable industries as those primarily concerned with advancing ESG factors in the wider marketplace and world, subject to the negative screen restrictions imposed on the investment fund.