| Overall Rating | Gold - expired |
|---|---|
| Overall Score | 69.28 |
| Liaison | Katie Koscielak |
| Submission Date | April 21, 2017 |
| Executive Letter | Download |
Cal Poly Humboldt
PA-9: Sustainable Investment
| Status | Score | Responsible Party |
|---|---|---|
|
1.65 / 4.00 |
Craig
Wruck Vice President University Advancement |
Does the institution wish to pursue Option 1 (positive sustainability investment)?:
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) | --- |
| Businesses selected for exemplary sustainability performance (e.g. using criteria specified in a sustainable investment policy) | --- |
| Sustainability investment funds (e.g. a renewable energy or impact investment fund) | --- |
| Community development financial institutions (CDFIs) or the equivalent | --- |
| Socially responsible mutual funds with positive screens (or the equivalent) | 1,228,597 US/Canadian $ |
| Green revolving loan funds that are funded from the endowment | --- |
A brief description of the companies, funds, and/or institutions referenced above:
The Parnassus Endeavor Fund invests in large-capitalization companies that represent Parnassus' clearest expression of ESG investing: portfolio companies must offer outstanding workplaces, and must not be engaged in the extraction, exploration, production, manufacturing, or refining of fossil fuels. This workplace focus can result in significant exposure to technology companies, many of which are leaders in offering positive and innovative workplaces.
Read more at https://www.parnassus.com/parnassus-mutual-funds/endeavor/investor-shares/
Percentage of the institution's investment pool in positive sustainability investments:
Does the institution wish to pursue Option 2 (investor engagement)?:
Does the institution have a publicly available sustainable investment policy?:
A copy of the sustainable investment policy:
The sustainable investment policy:
The Board of Trustees of the California State University adopted a resolution urging auxiliary boards, which make corporate investments to issue statements of social responsibility and to follow those precepts in examining past and considering future investment policies. The Foundation Board of Directors recognizes and accepts its social responsibility with respect to the investment of funds and has adopted the Humboldt Socially and Environmentally Responsible Investment Offset Policy (“SEROP”) which says that the Humboldt State University Advancement Foundation will:
1. Define Socially or Environmentally Concerning Sectors (“Concerning Sectors”) in a broad, bold way so as to include:
a. Energy - extraction, distribution, refining and marketing (e.g., oil, natural gas, coal and related/supporting industries);
b. Utilities - electricity generation (e.g., utilities utilizing carbon-based fuels);
c. Aerospace/defense, alcohol, tobacco, gaming and casino industries.
Revisit definition and revise as appropriate over time.
2. Continue to abstain from any direct investment in Concerning Sectors.
3. Monitor and report on the value of indirect investments in Concerning Sectors.
4. Make reasonable attempts to reduce the size of indirect investments in Concerning Sectors provided any divestments are consistent with the Foundation’s fiduciary requirements.
5. Define Socially or Environmentally Responsible (“SER”) organizations, projects or assets initially as ones which:
a. Are environmentally friendly (e.g., reduce the levels of atmospheric C02) or;
b. Improve the health and well-being of our community members.
Revisit definition and revise as appropriate over time.
6. Actively seek offsetting investment opportunities in SER organizations, projects or assets.
7. Invest directly in SER organizations, projects or assets provided that:
a. Investments meet the Foundation’s fiduciary requirements and policies, and
b. Investments support the stated HSU mission, vision and values.
8. Monitor and report on the value of direct investments in SER assets and active investments in SER organizations or projects.
9. Monitor and report on the value of obvious indirect investments in SER organizations, projects or assets.
10. Create a socially and environmentally responsible fund and actively seek donations of funds and assets that could be used to support Humboldt’s SEROP Pledge.
Does the institution use its sustainable investment policy to select and guide investment managers?:
A brief description of how the policy is applied, including recent examples:
HSUAF Board of Directors have a long standing record of seeking investments which support the mission of Humboldt State University and its sustainability beliefs. The Board met with students and discussed the divestment of fossil fuels from the HSUAF Endowment portfolio. RV Kuhns, HSUAF Investment Managers, seek out investment funds which do not have fossil fuels in their portfolios in which to invest. Student and the HSUAF Board of Directors agreed to invest 10% of the Endowment assets into funds divested of fossil fuels. At the time of the decision there were few funds from which to chose. As time has passed, and other companies become more sustainably conscience the number of funds have increased slightly.
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:
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:
The Committee on Finance and Investor Responsibility (HSU Advancement Foundation) hopes to take on shareholder advocacy in the future, but is not currently doing so.
Does the institution have a publicly available investment policy with negative screens?:
A brief description of the negative screens and how they have been implemented:
Endowment holdings are exclusively in institutional funds. The Investment consultant monitors the funds for several concerning sectors. Ownership in these sectors is measured against the US and international markets.
Approximate percentage of the endowment that the 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:
Member and signatory of the United Nations Principles for Responsible Investing. Founding member of the Intentional Endowments Network.
The website URL where information about the programs or initiatives 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.