Overall Rating Silver
Overall Score 46.21
Liaison Chris Gardner
Submission Date Aug. 23, 2022

STARS v2.2

Douglas College
PA-9: Committee on Investor Responsibility

Status Score Responsible Party
Complete 0.50 / 2.00 Vivian Lee
Director
Finance
"---" indicates that no data was submitted for this field

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:

The Douglas College Audit Finance and Investment Committee is responsible for making recommendations to fund decision-makers on socially and environmental responsible investment opportunities. This is actioned through the Committee's duties and responsibilities related to implementation of the Douglas College Investment Policy, which includes the integration of environmental, social and governance (ESG) factors into investment decisions.

Purpose of the Committee

The purpose of the Douglas College Audit Finance and Investment Committee (the “Committee”) is to assist the Board in fulfilling its obligations and responsibilities relating to financial and audit oversight, including but not limited to the College’s operating and capital budgeting process, financial and enrolment reporting, the internal and external audit processes, the system of internal controls, investments, and risk management.

The Terms of Reference for the Audit Finance and Investment Committee can be viewed in Section C3 of the Douglas College Board Governance Framework, which can be found at this link: https://www.douglascollege.ca/sites/default/files/docs/college-board/Governance%20Framework%20FINAL%202022%2003.pdf

Integration of Environmental, Social, and Governance Factors into Investment Decisions

The Committee makes recommendations to fund decision-makers on socially and environmentally responsible investments across asset classes through an established process for implementing the College's Investment Policy, which includes the integration of ESG factors into investment decisions. This process is described in this sub-section.

As outlined in Section E of the Committee's Terms of Reference (see link to the ToR provided above, under the Purpose sub-section), one of the key Duties and Responsibilities of the Committee is to [a] review the Douglas College Investment Policy on an annual basis, [b] review and provide recommendations to the Board on the Douglas College Investment Policy, and [c] on a quarterly basis, confirm compliance with the Investment Policy.

As outlined in PA-10: Sustainable Investment, the Douglas College Investment Policy integrates environmental, social and governance (ESG) factors into investment decisions, and the Committee is responsible for monitoring the integration of ESG factors into investment decisions by external Fund Managers. The College utilizes the MSCI ESG rating screen to maintain a well-diversified portfolio that integrates ESG factors into investment decisions.

For reporting, tracking, and verifying purposes, external fund managers are responsible for providing the College management and Committee with quarterly investment reports that outline how ESG factors were integrated into investment decisions.

Through this process, the Committee ensures that the College's investments are aligned with the ESG factors and screens outlined in the Investment Policy.

Composition and Resources

The Committee shall be composed of not less than three and not more than five Directors, including the Committee Chair. The Board, on the recommendation of the Board Executive and Governance Committee, appoints the Committee Chair and Committee members. The College Board Chair and the College President and CEO shall serve as ex-officio, non-voting members. The Committee may engage independent consultants as required to assist with its duties. All Committee members shall be independent and financially literate, as defined in the Crown Agencies and Board Resourcing Office’s (CABRO’s) guidelines, and shall have no direct or indirect material relationship with the College. At least one member shall have an accounting designation or related financial expertise. The College Secretary, or a nominee, shall serve as Secretary to the Committee. The Vice President, Administrative Services and CFO shall also serve as a non-voting management resource. Additional resource personnel may be invited to attend meetings as required.


Does the CIR include academic staff representation?:
No

Does the CIR include non-academic staff representation?:
Yes

Does the CIR include student representation?:
No

Members of the CIR, including affiliations and role:

MEMBERSHIP
Three Board members and, as ex-officio members, the Board Chair and College President

Susan Todd (Chair)
Brian Haugen
Kristi Miller
Adel Gamar (Board Chair) (ex-officio)
Kathy Denton (ex-officio)
RESOURCE PERSONNEL
Vice President Administrative Services and CFO, Kayoko Takeuchi
Director, Finance, Vivian Lee
Exec. Assistant, VP Administrative Services and CFO, Pamela Fox


Examples of CIR actions during the previous three years:

Duties and Responsibilities
e. Financings, Borrowings and Investments Review and approve for recommendation to the Board, the details of proposed financings or borrowings prior to such proposals being executed and/or submitted to the provincial government for approval. Review the College’s investment strategies and performance, and ensure compliance with the College and Institute Act and the College’s Board-approved investment policy.
n. Review of Douglas College Investment Policy On an annual basis, review and provide recommendations to the Board on the Douglas College Investment Policy (Section E). On a quarterly basis, confirm compliance with policy.


Website URL where information about the institution’s committee on investor responsibility is available:
Additional documentation to support the submission:
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