| Overall Rating | Gold - expired |
|---|---|
| Overall Score | 72.07 |
| Liaison | Katie Koscielak |
| Submission Date | May 7, 2020 |
Cal Poly Humboldt
PA-9: Committee on Investor Responsibility
| Status | Score | Responsible Party |
|---|---|---|
|
2.00 / 2.00 |
Frank
Whitlatch Interim Vice President University Advancement |
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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 Humboldt State University Foundation has a Finance and Investment Committee which oversees and advises on all matters related to investments. With the guidance and advice from RVK, INC Investment Managers, the Finance and Investment Committee is able to guide the Foundation to be a leader in the California State University system when it comes to addressing social and environmental concerns within the investment portfolio.
In addition, the Humboldt State University Foundation is a signatory member of the United Nations Principles for Responsible Investing (UNPRI). The UNPRI Mission statement is:
“We believe that an economically efficient, sustainable global financial system is a necessity for long-term value creation. Such a system will reward long-term, responsible investment and benefit the environment and society as a whole.
The UNPRI will work to achieve this sustainable global financial system by encouraging adoption of the Principles and collaboration on their implementation; by fostering good governance, integrity and accountability; and by addressing obstacles to a sustainable financial system that lie within market practices, structures and regulation.”
The HSU Foundation Mission Statement is:
The Humboldt State University Foundation exists to support and advance
the mission of Humboldt State University by securing private support, developing and managing entrepreneurial activities, overseeing philanthropic activities, and managing endowed and other assets as requested by the University.
And finally, as stated in the attachment for this credit, the HSU 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 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 divestment 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.
In addition, the Humboldt State University Foundation is a signatory member of the United Nations Principles for Responsible Investing (UNPRI). The UNPRI Mission statement is:
“We believe that an economically efficient, sustainable global financial system is a necessity for long-term value creation. Such a system will reward long-term, responsible investment and benefit the environment and society as a whole.
The UNPRI will work to achieve this sustainable global financial system by encouraging adoption of the Principles and collaboration on their implementation; by fostering good governance, integrity and accountability; and by addressing obstacles to a sustainable financial system that lie within market practices, structures and regulation.”
The HSU Foundation Mission Statement is:
The Humboldt State University Foundation exists to support and advance
the mission of Humboldt State University by securing private support, developing and managing entrepreneurial activities, overseeing philanthropic activities, and managing endowed and other assets as requested by the University.
And finally, as stated in the attachment for this credit, the HSU 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 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 divestment 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 CIR include academic staff representation?:
Yes
Does the CIR include non-academic staff representation?:
Yes
Does the CIR include student representation?:
Yes
Members of the CIR, including affiliations and role:
The HSU Foundation has representation from a diverse group which includes students, faculty, staff, non-staff and community members. The bylaws require a minimum of one student and one faculty member to be represented on the board. Our current student is Destiny Mancilla, our most recent faculty member was Mark Hemphill-Haley and faculty emeritus Kenneth Fulgham. Our non-staff representative is Frank Whitlatch, HSU Vice President of University Advancement and the remainder of the board are community members, many of which are alumni of the university.
None
Examples of CIR actions during the previous three years:
The HSU Foundation has increased it's green divestments from 23% to 38% from 2017 to 2020. Green divestments are those which are divested from fossil fuels. They are continually looking at increasing the green funds as more opportunities for socially responsible funds become available globally. The board has investigated other sectors to divest from concerns factors such as firearms, weapons and ammunition.
Optional Fields
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Additional documentation to support the submission:
Data source(s) and notes about the submission:
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