|Submission Date||March 4, 2022|
PA-10: Sustainable Investment
Total value of the investment pool:
Value of holdings in each of the following categories:
|Value of holdings|
|Sustainable industries (e.g., renewable energy or sustainable forestry)||0 US/Canadian $|
|Businesses selected for exemplary sustainability performance (e.g., using criteria specified in a sustainable investment policy)||0 US/Canadian $|
|Sustainability investment funds (e.g., a renewable energy or impact investment fund)||87,068,943 US/Canadian $|
|Community development financial institutions (CDFIs) or the equivalent||4,102,457 US/Canadian $|
|Socially responsible mutual funds with positive screens (or the equivalent)||0 US/Canadian $|
|Green revolving funds funded from the endowment||0 US/Canadian $|
A brief description of the companies, funds, and/or institutions referenced above:
Sustainable Investment Funds (as of 6/10/2021)
DFA US Sustainability Core 1 - $27,530,979 - 9.5%
DFA International Sustainability Core 1 - $19,683,488 - 6.8%
Cowen Sustainable Income - $2,954,206 - 1%
COWEN SUSTAINABLE INVESTMENTS (CSI)
Founded in 2018, Cowen Sustainable Investments (CSI) provides tailored financing and data analytics solutions to companies that are accelerating the world’s transition to an environmentally sustainable economy by addressing pollution, waste, and resource constraints.
Breckinridge Intermediate Sustainable Government Credit - $13,004,154 - 4.5%
The Intermediate Sustainable Government Credit Strategy is an investment grade, intermediate duration bond portfolio that seeks to preserve capital and prudently improve returns while emphasizing environmental, social and governance (ESG) performance.
Morgan Stanley Global Sustain Fund - $13,333,166 - 4.6%
The Fund typically invests in intrinsically carbon-light companies and has a significantly lower carbon footprint than the broader market, with a robust carbon-related exclusions policy and filtering process. In addition to its carbon exclusions, the Portfolio has a number of business activity* exclusions, including alcohol, gambling, tobacco and weapons. The investment team views long-term portfolio manager-led engagement as a critical underpinning to an active investment process.
Artisan International - $10,562,950 - 3.6%
The investment team seeks to invest in companies within its preferred themes with sustainable growth characteristics at attractive valuations that do not reflect their long-term potential.
Community development financial institutions (as of 6/10/2021)
Rose Affordable Housing Preservation Fund V - $4,102,457 - 1.4%
An investment in an institutional fund focused on generating strong, risk-adjusted returns through: creating and preserving affordable multifamily housing; implementing practical green strategies to reduce costs and increase efficiency; and increasing opportunity for its residents through social and educational services.
Percentage of the institution's investment pool in positive sustainability investments:
Does the institution have a publicly available sustainable investment policy?:
A copy of the sustainable investment policy:
The sustainable investment policy:
Does the institution use its sustainable investment policy to select and guide investment managers?:
A brief description of how the sustainable investment policy is applied:
Has the institution engaged in proxy voting, either by its CIR or other committee or through the use of guidelines, to promote sustainability during the previous three years?:
A copy of the proxy voting guidelines or proxy record:
A brief description of how managers are adhering to proxy voting guidelines:
Has the institution filed or co-filed one or more shareholder resolutions that address sustainability or submitted one or more letters about social or environmental responsibility to a company in which it holds investments during the previous three years?:
Examples of how the institution has engaged with corporations in its portfolio about sustainability issues during the previous three years:
The Pratt Institute Board of Trustees passed a resolution in 2016 which directed the Investment Committee to divest from investment positions in fossil fuels while simultaneously exploring opportunities for investment in sustainable energy and other areas critical to addressing climate change.
Does the institution participate in a public divestment effort and/or have a publicly available investment policy with negative screens?:
A brief description of the divestment effort or negative screens and how they have been implemented:
Approximate percentage of endowment that the divestment effort and/or negative screens apply to:
Does the institution engage in policy advocacy by participating in investor networks and/or engage in inter-organizational collaborations to share best practices?:
A brief description of the investor networks and/or collaborations:
Website URL where information about the institution’s sustainable investment efforts is available:
Additional documentation to support the submission:
The information presented here is self-reported. While AASHE staff review portions of all STARS reports and institutions are welcome to seek additional forms of review, the data in STARS reports are not verified by AASHE. If you believe any of this information is erroneous or inconsistent with credit criteria, please review the process for inquiring about the information reported by an institution or simply email your inquiry to email@example.com.