| Overall Rating | Gold |
|---|---|
| Overall Score | 76.57 |
| Liaison | Katie Koscielak |
| Submission Date | April 11, 2023 |
Cal Poly Humboldt
PA-9: Committee on Investor Responsibility
| Status | Score | Responsible Party |
|---|---|---|
|
2.00 / 2.00 |
Frank
Whitlatch Interim Vice President University Advancement |
"---"
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 Cal Poly Humboldt 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.
The Cal Poly Humboldt Foundation's Purpose Statement is:
The Cal Poly Humboldt Foundation exists to support and advance the purpose of
Cal Poly Humboldt 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 Cal Poly Humboldt 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 Cal Poly Humboldt 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 greenhouse gases ) 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 University 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.
The Investment Committee regularly reviews social and environmental responsibility as part of its agenda and investment strategy with attention to adherence to the SEROP policy. The group also started a Green Investment working group in 2023, who's explicit challenge is to review and update the SEROP policy if that is deemed merited by the working group. The Green Investment Working Group will meet throughout Spring 2023, with possibility of continuing into Fall 2023 if needed.
The Cal Poly Humboldt Foundation's Purpose Statement is:
The Cal Poly Humboldt Foundation exists to support and advance the purpose of
Cal Poly Humboldt 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 Cal Poly Humboldt 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 Cal Poly Humboldt 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 greenhouse gases ) 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 University 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.
The Investment Committee regularly reviews social and environmental responsibility as part of its agenda and investment strategy with attention to adherence to the SEROP policy. The group also started a Green Investment working group in 2023, who's explicit challenge is to review and update the SEROP policy if that is deemed merited by the working group. The Green Investment Working Group will meet throughout Spring 2023, with possibility of continuing into Fall 2023 if needed.
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 Cal Poly Humboldt Foundation Board Finance & Investment Committee has representation from a diverse group which includes faculty, staff, non-staff and community members. Faculty representation is provided by Eden Donahue and faculty emeritus Kenneth Fulgham. Our non-staff representative is Frank Whitlatch, Cal Poly Humboldt Vice President of University Advancement and the remainder of the board are community members, many of whom are alumni of the university.
Kenneth Fulgham - retired academic staff, co-chair
Jason Carlson - industry leader, co-chair
Eden Donahue - academic staff, member
Philip Anton - alumni, member
Frank Whitlatch - non-academic staff, member
Dan Johnson - business leader, member
The Environmentally- and socially-responsible investing review (sub-committee) consists of:
• a Foundation Board member (alumni or community member, non-staff)
• the Foundation's investment manager (non-staff)
• the Vice President for University Advancement (non-academic staff)
• a member of the public (non-staff)
• the University Sustainability Analyst (non-academic staff)
• the Chair of the Finance & Investment Committee (alumni or community member, non-staff)
• a current Cal Poly Humboldt student (student)
Kenneth Fulgham - retired academic staff, co-chair
Jason Carlson - industry leader, co-chair
Eden Donahue - academic staff, member
Philip Anton - alumni, member
Frank Whitlatch - non-academic staff, member
Dan Johnson - business leader, member
The Environmentally- and socially-responsible investing review (sub-committee) consists of:
• a Foundation Board member (alumni or community member, non-staff)
• the Foundation's investment manager (non-staff)
• the Vice President for University Advancement (non-academic staff)
• a member of the public (non-staff)
• the University Sustainability Analyst (non-academic staff)
• the Chair of the Finance & Investment Committee (alumni or community member, non-staff)
• a current Cal Poly Humboldt student (student)
None
Examples of CIR actions during the previous three years:
The Cal Poly Humboldt Foundation has increased its investments in industries that are divested from concerning sectors, such as fossil fuels, 38% to 41% from 2020 to 2022. They are continually looking at increasing investments in socially- and environmentally responsible funds as opportunities for them become more available globally. The Board has investigated other sectors to divest from concerning factors such as firearms, weapons and ammunition. The Board is engaged in forming an environmentally- and socially-responsible investing review consisting of a Board member, the Foundation's investment manager, the Vice President for University Advancement, a member of the public, the University Sustainability Analyst, the Co-Chairs of the Foundation Finance & Investment Committee, and a current Cal Poly Humboldt student (selected by the University Sustainability Analyst).
Optional Fields
Additional documentation to support the submission:
Data source(s) and notes about the submission:
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