| Overall Rating | Gold |
|---|---|
| Overall Score | 83.12 |
| Liaison | Richard Manton |
| Submission Date | Sept. 12, 2024 |
Ollscoil na Gaillimhe - University of Galway
PA-9: Committee on Investor Responsibility
| Status | Score | Responsible Party |
|---|---|---|
|
2.00 / 2.00 |
Richard
Manton Director of Sustainability Sustainability Office |
Does the institution have a formally established and active committee on investor responsibility (CIR) or equivalent body?:
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:
Yes. The University of Galway Finance & Resources Committee (FRC) is a committee of the Governing Authority (Údarás na hOllscoile). This committee includes ESG as an agenda item. Most recently, at its meeting on 17 September 2024, it considered a Sustainable Portfolio Management Report 2024.
According to its Terms of Reference (link below), its functions and responsibilities include supervising the financial affairs of the University and to consider and approve Policies of significance governing the University’s finances such as Asset Disposal Policy and Treasury Policy. FRC membership is available at the link below and includes academic staff, non-academic staff and student representation as well as external members.
The University’s investment strategy is provided in University Policy QA327 (link below). The University appoints Investment Manager(s) for the day-to-day management of investible funds. Section 2.7 ‘Ethical investment considerations’ states: “The University will only appoint managers who are signatories to the United Nations Principles of Responsible Investment (UN PRI).”
The University's Financial Statements include an extensive CSR and sustainability statement (see link below for 22/23).
Terms of reference: https://www.universityofgalway.ie/media/officeforthesecretaryforgovernanceandacademicaffairsnew/files/Finance-&-Resource-Committee-Terms-of-Reference.pdf
FRC membership: https://www.universityofgalway.ie/governance/governing-authority/committees/finance-resource-committee/
Investment policy: https://www.universityofgalway.ie/media/pensionsandinvestments/QA327-Investment-Strategy_01-May-2024.pdf
Financial Statements 22/23: https://www.universityofgalway.ie/media/financialaccounting/financialaccountingoffice/University-of-Galway-AFSs-(SIGNED-with-C&AG-Audit-Report).pdf
Does the CIR include academic staff representation?:
Does the CIR include non-academic staff representation?:
Does the CIR include student representation?:
Members of the CIR, including affiliations and role:
Michael McNicholas (Chair) - External Member
Breda Fox - External Member
Michal Molcho - Academic staff
Ciarán Ó hÓgartaigh - Non-academic staff
Tom Forde - Student
Brendan Jennings - External Member
Donal Flynn - External Member
Sarah Finnegan - External Member
The Finance Resource Committee on behalf of, and under the delegated authority of, Údarás na hOllscoile, undertakes the following functions and responsibilities:
a) To supervise the financial affairs of the University and to advise Údarás na hOllscoile on any matter relating to the financial management of the University;
b) To agree an annual budget for the University and recommend its approval to Údarás na hOllscoile. The budget will allocate resources having regard to the University’s Strategic Plan and operational requirements;
c) To review, monitor and agree on a regular basis, reports on actual expenditure and revenue against approved budget, including an end-of-year report and advise Údarás na hOllscoile on these reports;
d) To keep in such form as may be approved by The Higher Education Authority all proper and usual accounts and records of all income received or expenditure incurred by the University;
e) To monitor human resources, remuneration and pay policy in the context of the University’s Strategic Plan and finances and of national pay agreements and policies;
f) To consider and approve the financial aspects of the acquisition, development, refurbishment, sale or other disposal of any land the property of the University or its subsidiaries with a view to best practice for the disposal of assets, the granting of access to or leasing or licencing of property or infrastructure for commercial arrangements and the management of significant capital expenditure proposals within the maximum limits approved by Údarás na hOllscoile;
g) To consider and approve Policies of significance governing the University’s finances such as Asset Disposal Policy and Treasury Policy. To report to Údarás na hOllscoile on such approvals as and when they arise;
h) To oversee the establishment of and monitor the performance of any companies under the control of the University.
Optional Fields
Additional documentation to support the submission:
Data source(s) and notes about the submission:
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