| Overall Rating | Platinum |
|---|---|
| Overall Score | 88.13 |
| Liaison | Tonie Miyamoto |
| Submission Date | Nov. 7, 2022 |
Colorado State University
PA-10: Sustainable Investment
| Status | Score | Responsible Party |
|---|---|---|
|
3.56 / 4.00 |
Tonie
Miyamoto Director of Communications and Sustainability Housing and Dining Services |
Total value of the investment pool:
Value of holdings in each of the following categories:
| Value of holdings | |
| Sustainable industries (e.g., renewable energy or sustainable forestry) | 8,118,095 US/Canadian $ |
| Businesses selected for exemplary sustainability performance (e.g., using criteria specified in a sustainable investment policy) | 110,387,897 US/Canadian $ |
| Sustainability investment funds (e.g., a renewable energy or impact investment fund) | 20,658,954 US/Canadian $ |
| Community development financial institutions (CDFIs) or the equivalent | 18,846,442 US/Canadian $ |
| Socially responsible mutual funds with positive screens (or the equivalent) | 0 US/Canadian $ |
| Green revolving funds funded from the endowment | 0 US/Canadian $ |
A brief description of the companies, funds, and/or institutions referenced above:
Colorado State University Foundation utilizes an outsourced chief investment officer (OCIO) to manage its portfolio in alignment with the foundation's investment policy statement and socially responsible investment policy. Colorado State University Foundation's funds are invested with third-party, external investment managers who manage portfolios of securities and companies. Through its external investment managers, Colorado State University Foundation has investments in renewable energy (wind turbines, solar panels), energy recycling, engineering services for alternative energy installations, and other environmentally-responsible investments. Many of Colorado State University Foundation's investment managers have ESG considerations interwoven into their decision-making processes. Many are signatories on the UN Principles of Responsible Investing list. Examples of CSUF's sustainable holdings include:
- Colorado-specific impact funds that focus on Colorado community and economic development
- Funds that invest in sustainable agriculture and food production
- Funds invested in wind farms, climate tracking technology, alternative renewable energy sources, and clean water solutions
- Funds that finance family-owned businesses in emerging markets
- A fund that finances businesses led or owned by traditionally underrepresented individuals
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:
See attached policy above.
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:
Colorado State University Foundation has charged its OCIO to invest on behalf of the foundation in alignment with CSUF's investment policy statement and socially responsible investment policy. Additionally, CSUF encourages investment managers within the foundation's portfolio to consider investments in sustainable industries and renewable energy initiatives via a personalized message from the President/CEO and endorsed by the Board of Directors. CSUF also asks for a report on all ESG-compliant holdings. To better assess its holdings, CSUF regularly asks its OCIO to review, rank, and report on the level of ESG and JEDI integration of investment managers with the portfolio. Implementation of this ranking method has encouraged managers to prioritize ESG and revise processes as appropriate and feasible.
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:
Included in SRI Policy:
Proxy Voting Guidelines
Because certain investment vehicles (e.g. mutual fund-type investments) lack the ability to submit proxy votes, it is often difficult or impossible for the Foundation and its investment counsel to influence ESG or JEDI policies for particular companies or funds. Occasionally, however, the ability to vote arises. Where possible, the Foundation’s investment consultants have been charged with submitting proxy votes in a manner that support the environment, justice, equity, diversity and inclusion, and other socially responsible initiatives.
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:
CSUF encourages investment managers within the foundation's portfolio to consider investments in sustainable industries and renewable energy initiatives via a personalized message from the President/CEO and endorsed by the Board of Directors. CSUF also asks for a report on all ESG-compliant holdings. These messages and requests are generally sent out every twelve to eighteen months.
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:
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:
CSU participates in two peer network groups - Foundation Financial Leaders and Mountain West Region Foundation Leaders. These networks provide a forum to review best practices and discuss important and emerging investment issues. Although the sole focus of these peer network forums in not sustainability-related, they do discuss investment policies, ESG, DEIJ, and other related issues. Forums are held monthly, dependent on participant availability.
CSUF’s OCIO is a UN PRI signatory. Additionally, employees of CSUF’s OCIO hold membership with organizations whose goal is to increase diversity and inclusion in financial services. Such organizations include the National Association of Securities Professionals (“NASP”), New America Alliance (“NAA”), Association of Asian American Investment Managers (“AAAIM”), National Association of Investment Companies (NAIC), and the Toigo Foundation.
Website URL where information about the institution’s sustainable investment efforts is available:
Additional documentation to support the submission:
Data source(s) and notes about the submission:
The $558,004,083 figure above represents the CSU Foundation endowment and per the STARS technical manual reflects “The predominant asset pool or grouping of assets that is organized primarily to support the institution and reflect its investment policies.”
The Colorado State Treasury is a state entity that manages state dollars. Per the state Investment Policy (https://treasury.colorado.gov/sites/treasury/files/CST_IPS_FINAL_08-12-2021.pdf), “The constitution and laws of the State of Colorado vest in the State Treasurer [an elected position] the custody of all state monies and the authority to invest said monies in such manner as in the State Treasurer’s discretion and judgement will best serve the interest of the State."
The $558,004,083 figure above represents the CSU Foundation endowment and per the STARS technical manual reflects “The predominant asset pool or grouping of assets that is organized primarily to support the institution and reflect its investment policies.”
The Colorado State Treasury is a state entity that manages state dollars. Per the state Investment Policy (https://treasury.colorado.gov/sites/treasury/files/CST_IPS_FINAL_08-12-2021.pdf), “The constitution and laws of the State of Colorado vest in the State Treasurer [an elected position] the custody of all state monies and the authority to invest said monies in such manner as in the State Treasurer’s discretion and judgement will best serve the interest of the State."
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.