| Overall Rating | Gold |
|---|---|
| Overall Score | 79.01 |
| Liaison | Lindsay Walker |
| Submission Date | Feb. 14, 2023 |
Humber College
PA-10: Sustainable Investment
| Status | Score | Responsible Party |
|---|---|---|
|
1.00 / 3.00 |
Lindsay
Walker Sustainability Manager Facilities Management |
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) | 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) | 0 US/Canadian $ |
| Community development financial institutions (CDFIs) or the equivalent | 0 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:
Government and corporate fixed income (Canadian) are comprised of bonds issued by Provincial governments (ON, BC, NS, etc.) and Canadian financial institutions (BMO, CIBC, etc.), as well as other government-affiliated entities (CPP, CMHC).
GIC and other cash equivalents are held with Canadian financial institutions (BMO).
Pooled funds are comprised of various global and Canadian equities on listed exchanges.
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:
~8% of Humber’s investments are comprised of pooled funds held with an external investment manager, Foyston, Gordon & Payne Inc., or ‘FGP’.
Humber does have ESG requirements integrated with overall investment policy. Humber requires its investment manager (FGP) to ensure ESG factors are adequately addressed in the selection, retention and realization of investments as far as such factors may affect investment performance.
FGP has published its ESG philosophy and approach, as well as WACI performance on its website.
All FGP quarterly reporting provided to Humber college includes updates on ESG engagement and proxy voting activity carried out by FGP.
FGP actively tracks and reports on ESG initiatives for all portfolio holdings, and actively measures the weighted average carbon intensity (‘WACI’) of all pooled investments. (https://www.foyston.com/areas-of-expertise/responsible-investment/helping-investors-reduce-their-carbon-footprint). All FGP pooled funds held by Humber have better WACI scores when compared to industry benchmarks.
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:
FGP actively tracks and reports on ESG initiatives for all portfolio holdings, and actively measures the weighted average carbon intensity (‘WACI’) of all pooled investments.
The Audit and Finance Committee expects the Investment Manager to take steps to ensure that ESG factors are adequately addressed in the selection, retention and realization of investments as far as such factors may affect investment performance. Consideration of ESG factors is ultimately the responsibility of the Investment Manager and must be consistent with this Guideline.
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:
Humber guidelines resulted in FGP including updates on ESG engagement and proxy voting in all quarterly portfolio reviews.
Humber does not provide specific proxy voting guidelines to FGP. However, per Humber investment guidelines, FGP is expected to ensure ESG factors are adequately addressed in the selection, retention and realization of investments, which would include proxy voting activities.
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:
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:
Humber’s investment manager (FGP) is a signatory to the PRI (Principles for Responsible Investment - https://www.unpri.org/)
The PRI is the world’s leading proponent of responsible investment. It works:
-to understand the investment implications of environmental, social and governance (ESG) factors;
-to support its international network of investor signatories in incorporating these factors into their investment and ownership decisions.
The PRI acts in the long-term interests:
- of its signatories;
- of the financial markets and economies in which they operate;
- and ultimately of the environment and society as a whole.
The PRI is truly independent. It encourages investors to use responsible investment to enhance returns and better manage risks, but does not operate for its own profit; it engages with global policymakers but is not associated with any government; it is supported by, but not part of, the United Nations.
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 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.