| Overall Rating | Gold |
|---|---|
| Overall Score | 67.09 |
| Liaison | Mercè Jorba |
| Submission Date | Feb. 29, 2024 |
IESE Business School - Barcelona
PA-9: Committee on Investor Responsibility
| Status | Score | Responsible Party |
|---|---|---|
|
1.00 / 2.00 |
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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 Endowment has an entirely social character in that all the returns are destinated for research projects and scholarships, and thus favor academic and social development. Its mission should be achieved in a way consistent with the principles of Responsible Investing (RI).
In cases of direct investment, the Endowment will avoid investing in companies whose mission or practices are misaligned with IESE values. In the selection of external managers, efforts will be made to comply with the most appropriate criteria in these matters (ESG), and the manager’s own policy and capabilities in ESG and on responsible investment will be important selection criteria. The managers will engage with companies through the judicious and transparent use of voting rights and informal dialogue to encourage ethical behaviour and better management of ESG risks and opportunities.
In cases of direct investment, the Endowment will avoid investing in companies whose mission or practices are misaligned with IESE values. In the selection of external managers, efforts will be made to comply with the most appropriate criteria in these matters (ESG), and the manager’s own policy and capabilities in ESG and on responsible investment will be important selection criteria. The managers will engage with companies through the judicious and transparent use of voting rights and informal dialogue to encourage ethical behaviour and better management of ESG risks and opportunities.
Does the CIR include academic staff representation?:
Yes
Does the CIR include non-academic staff representation?:
Yes
Does the CIR include student representation?:
No
Members of the CIR, including affiliations and role:
ICR members IESE Endowment
• Jaime Alonso Stuyck. Director of the IESE International Foundation
• León Bartolomé - MBA ’84 - Managing Director of Alcarama
• Eusebio Díaz-Morera - MBA ’69 - Vicepresident of EDM
• Pablo Fernández - Professor of Financial Management, IESE
• Pablo González - MBA ’90 - Managing of Abaco Capital
• Francisco García Paramés - MBA ’89 - President of Cobas AM
• Jordi Gual - Prof. of Economics, IESE President of Vidacaixa
• Christopher Ivey - MBA ’01 - Head of European Private Client - Practice, Cambridge Associates
• Rob Johnson - Venture Capitalist - Visiting Professor, IESE
• Jaime Alonso Stuyck. Director of the IESE International Foundation
• León Bartolomé - MBA ’84 - Managing Director of Alcarama
• Eusebio Díaz-Morera - MBA ’69 - Vicepresident of EDM
• Pablo Fernández - Professor of Financial Management, IESE
• Pablo González - MBA ’90 - Managing of Abaco Capital
• Francisco García Paramés - MBA ’89 - President of Cobas AM
• Jordi Gual - Prof. of Economics, IESE President of Vidacaixa
• Christopher Ivey - MBA ’01 - Head of European Private Client - Practice, Cambridge Associates
• Rob Johnson - Venture Capitalist - Visiting Professor, IESE
Examples of CIR actions during the previous three years:
Some examples are the following for each of the ESG aspects:
- Environmental: Rotation of funds and assets invested in mining industries towards funds and assets invested in clean energy and energy efficiency industries.
- Social: Inclusion in the portfolio of the RUFFER manager, which incorporates responsible investment policies into its funds and is a member of the PRI/IIGCC/Climate Action/Transition Pathway initiative.
- Governance: Although the Investment Committee had approved investing in Chinese government debt, it was decided not to do so as the Chinese government was deemed not to respect some important ESG criteria and to have a low commitment to reducing its carbon footprint. In addition, it divested from a passive emerging debt position that had 10% in China to replace it with an emerging debt ETF that contained no Chinese government issues.
- Environmental: Rotation of funds and assets invested in mining industries towards funds and assets invested in clean energy and energy efficiency industries.
- Social: Inclusion in the portfolio of the RUFFER manager, which incorporates responsible investment policies into its funds and is a member of the PRI/IIGCC/Climate Action/Transition Pathway initiative.
- Governance: Although the Investment Committee had approved investing in Chinese government debt, it was decided not to do so as the Chinese government was deemed not to respect some important ESG criteria and to have a low commitment to reducing its carbon footprint. In addition, it divested from a passive emerging debt position that had 10% in China to replace it with an emerging debt ETF that contained no Chinese government issues.
Website URL where information about the institution’s committee on investor responsibility is available:
Additional documentation to support the submission:
Data source(s) and notes about the submission:
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