| Overall Rating | Gold |
|---|---|
| Overall Score | 65.39 |
| Liaison | Patrice Langevin |
| Submission Date | March 3, 2023 |
Pitzer College
PA-9: Committee on Investor Responsibility
| Status | Score | Responsible Party |
|---|---|---|
|
2.00 / 2.00 |
Susan
Phillips Director Robert Redford Conservancy |
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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:
Responsible Investment: Pursuant to the Board’s April 2014 decision, the Committee will take the following objectives into account in its ongoing endowment portfolio implementation.
Section 4.11 of College Bylaws:
(g) Investment Committee. There shall be an Investment Committee to consist of such Trustees and Emeritus Trustees as shall from time to time be appointed by the Board. The Treasurer shall be a non-voting ex officio member of the Investment Committee. Additionally, one faculty representative and one student representative may be appointed by the Board upon the recommendation of the President for a one-year term as non-voting members of the Investment Committee, and may participate in all activities of the Committee, with the exception of its executive sessions. Members of the Investment Committee shall not receive any compensation from the College and shall not have a material financial interest in any investment made by the College. The Investment Committee shall have the power and authority to supervise all matters pertaining to the investment of the College’s endowment and other funds, and shall have full power and authority to direct the investment and reinvestment of all such funds and the purchase and sale of stocks, bonds and other securities as it shall deem proper. The Investment Committee shall also have the power and authority to arrange for and establish annuities in connection with the management of the endowment funds. The Investment Committee shall develop and recommend to the Board for approval an investment policy statement setting forth the goals, risk levels, and other parameters that shall govern the Committee’s investment decisions, and shall periodically, as the Committee deems necessary and appropriate, recommend to the Board amendments to such investment policy statement. All actions taken by the Investment Committee shall be reported to the Board at its next regular meeting.
•Fossil Fuel Divestment – To the extent deemed practical by the Committee, the endowment will not invest in the publicly-traded stocks of fossil fuel producer companies.
•Environmental, Social and Governance (ESG) Factors – The Committee will consider ESG factors in the process of manager selection and monitoring.
•Sustainability Fund – Endowment contributions earmarked for the “Sustainability Fund” (an identified subset of the endowment’s holdings) will be invested in ways that are believed to promote sustainability.
Section 4.11 of College Bylaws:
(g) Investment Committee. There shall be an Investment Committee to consist of such Trustees and Emeritus Trustees as shall from time to time be appointed by the Board. The Treasurer shall be a non-voting ex officio member of the Investment Committee. Additionally, one faculty representative and one student representative may be appointed by the Board upon the recommendation of the President for a one-year term as non-voting members of the Investment Committee, and may participate in all activities of the Committee, with the exception of its executive sessions. Members of the Investment Committee shall not receive any compensation from the College and shall not have a material financial interest in any investment made by the College. The Investment Committee shall have the power and authority to supervise all matters pertaining to the investment of the College’s endowment and other funds, and shall have full power and authority to direct the investment and reinvestment of all such funds and the purchase and sale of stocks, bonds and other securities as it shall deem proper. The Investment Committee shall also have the power and authority to arrange for and establish annuities in connection with the management of the endowment funds. The Investment Committee shall develop and recommend to the Board for approval an investment policy statement setting forth the goals, risk levels, and other parameters that shall govern the Committee’s investment decisions, and shall periodically, as the Committee deems necessary and appropriate, recommend to the Board amendments to such investment policy statement. All actions taken by the Investment Committee shall be reported to the Board at its next regular meeting.
•Fossil Fuel Divestment – To the extent deemed practical by the Committee, the endowment will not invest in the publicly-traded stocks of fossil fuel producer companies.
•Environmental, Social and Governance (ESG) Factors – The Committee will consider ESG factors in the process of manager selection and monitoring.
•Sustainability Fund – Endowment contributions earmarked for the “Sustainability Fund” (an identified subset of the endowment’s holdings) will be invested in ways that are believed to promote sustainability.
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:
Section 4.11 of College Bylaws:
(g) Investment Committee. There shall be an Investment Committee to consist of such Trustees and Emeritus Trustees as shall from time to time be appointed by the Board. The Treasurer shall be a non-voting ex officio member of the Investment Committee. Additionally, one faculty representative and one student representative may be appointed by the Board upon the recommendation of the President for a one-year term as non-voting members of the Investment Committee, and may participate in all activities of the Committee, with the exception of its executive sessions. Members of the Investment Committee shall not receive any compensation from the College and shall not have a material financial interest in any investment made by the College. The Investment Committee shall have the power and authority to supervise all matters pertaining to the investment of the College’s endowment and other funds, and shall have full power and authority to direct the investment and reinvestment of all such funds and the purchase and sale of stocks, bonds and other securities as it shall deem proper. The Investment Committee shall also have the power and authority to arrange for and establish annuities in connection with the management of the endowment funds. The Investment Committee shall develop and recommend to the Board for approval an investment policy statement setting forth the goals, risk levels, and other parameters that shall govern the Committee’s investment decisions, and shall periodically, as the Committee deems necessary and appropriate, recommend to the Board amendments to such investment policy statement. All actions taken by the Investment Committee shall be reported to the Board at its next regular meeting.
Board of Trustee Investment Committee:
Johnathan Graham, Trustee, Chair Investment Committee; Shahan Soghikan, Trustee Vice Chair Investment Committee; Steven Chang, Trustee; Gina Hoagland, Trustee;
Donald Gould Trustee and Board f Trustees Chair; Jessica Kizer, Faculty; Jill Klein, Interim President; Laura Troendle, Treasurer; Pamela Mader, Assistant Treasurer; Amanda Falabrino, Staff
(g) Investment Committee. There shall be an Investment Committee to consist of such Trustees and Emeritus Trustees as shall from time to time be appointed by the Board. The Treasurer shall be a non-voting ex officio member of the Investment Committee. Additionally, one faculty representative and one student representative may be appointed by the Board upon the recommendation of the President for a one-year term as non-voting members of the Investment Committee, and may participate in all activities of the Committee, with the exception of its executive sessions. Members of the Investment Committee shall not receive any compensation from the College and shall not have a material financial interest in any investment made by the College. The Investment Committee shall have the power and authority to supervise all matters pertaining to the investment of the College’s endowment and other funds, and shall have full power and authority to direct the investment and reinvestment of all such funds and the purchase and sale of stocks, bonds and other securities as it shall deem proper. The Investment Committee shall also have the power and authority to arrange for and establish annuities in connection with the management of the endowment funds. The Investment Committee shall develop and recommend to the Board for approval an investment policy statement setting forth the goals, risk levels, and other parameters that shall govern the Committee’s investment decisions, and shall periodically, as the Committee deems necessary and appropriate, recommend to the Board amendments to such investment policy statement. All actions taken by the Investment Committee shall be reported to the Board at its next regular meeting.
Board of Trustee Investment Committee:
Johnathan Graham, Trustee, Chair Investment Committee; Shahan Soghikan, Trustee Vice Chair Investment Committee; Steven Chang, Trustee; Gina Hoagland, Trustee;
Donald Gould Trustee and Board f Trustees Chair; Jessica Kizer, Faculty; Jill Klein, Interim President; Laura Troendle, Treasurer; Pamela Mader, Assistant Treasurer; Amanda Falabrino, Staff
None
Examples of CIR actions during the previous three years:
One of the first colleges in the country to launch an environmental studies program, Pitzer has promoted environmental awareness for nearly 50 years. This is an ongoing commitment, see more about the Sustainability Fund: https://www.pitzer.edu/divestment-climate-action-model/pitzer-college-robert-redford-announce-breakthrough-fossil-fuel-divestment-climate-action-model/
Optional Fields
Additional documentation to support the submission:
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Data source(s) and notes about the submission:
05.17.23: The above was changed to reflect that the committee does include student representation, as well as faculty, staff, and board of trustee members. In the above we have included the language of Section 4.11 of the College Bylaws, section G Investment Committee to accurately reflect the committee's makeup. PA3 showing no student members is in error, however, we are unable to unlock that credit.
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