Pace University
PA-9: Committee on Investor Responsibility
| Status | Score | Responsible Party |
|---|---|---|
|
Reporter |
Ryan
McEnany Director Energy & Resiliency Facilities & Capital Projects |
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:
This task force was requested by members of the faculty and administration to the Provost’s office to propose policies on socially responsible investment for Pace’s endowment. This Socially Responsible Endowment Task Force will develop draft policies for consideration and possible adoption by Investment/Pension Committee of the Board of Trustees that oversees Pace’s endowment investments. The Task Force will consult widely with the Pace community and present its proposed policies to the Investment/Pension Committee by 28 April 2025.
At present, Pace's Investment Policy Statement requires the trustees and managers to consider “reputation risk” in their decision making, and to avoid “Exposure to investments that may have an adverse impact on Pace University's reputation.” This has resulted, for instance, in efforts to avoid direct investment in fossil fuels. However, “reputation risk” is under-defined in this current policy. After initial conversations with faculty and administration, we recognize an opportunity to draft a more defined policy aligning Pace’s investments with its mission of Opportunitas and the values embedded in its vision and mission of making “positive and enduring contributions to our future world.”
The Provost Office's Socially Responsible Endowment Task Force will consist of representation from the following:
- 4 Faculty Members: NYFC and WFC Chairs, member of Fringe Benefits Committee, and representative of Law School (put forward by relevant faculty leadership)
- 2 Board of Trustees representatives: Faculty representative to the Investment/Pension Committee of the Board (Stephanie Allen), Faculty representative to Board of Trustees (Lisa Fastenberg)
- 2 Students: One representative from NYC SGA and one from Westchester SGA (SGAs to nominate)
- 2 Staff: Two staff representatives (Staff Councils to nominate)
- 3 Representatives from the Administration: represented by the Chief Financial Officer (Bob Almon), Assistant Controller (Paul Kelley), and General Counsel (Terryl Brown)
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:
- 4 Faculty Members: NYFC and WFC Chairs, member of Fringe Benefits Committee, and representative of Law School (put forward by relevant faculty leadership)
- 2 Board of Trustees representatives: Faculty representative to the Investment/Pension Committee of the Board (Stephanie Allen), Faculty representative to Board of Trustees (Lisa Fastenberg)
- 2 Students: One representative from NYC SGA and one from Westchester SGA (SGAs to nominate)
- 2 Staff: Two staff representatives (Staff Councils to nominate)
- 3 Representatives from the Administration: represented by the Chief Financial Officer (Bob Almon), Assistant Controller (Paul Kelley), and General Counsel (Terryl Brown)
Guiding Pace towards more sustainable and transparent investments to avoid reputation risk.
Optional Fields
Additional documentation to support the submission:
Data source(s) and notes about the submission:
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