| Overall Rating | Gold |
|---|---|
| Overall Score | 71.07 |
| Liaison | Carolyn Shafer |
| Submission Date | March 1, 2024 |
Pratt Institute
PA-10: Sustainable Investment
| Status | Score | Responsible Party |
|---|---|---|
|
2.19 / 3.00 |
Carolyn
Shafer Director Center for Sustainable Design Strategies |
"---"
indicates that no data was submitted for this field
Part 1. Positive sustainability investment
269,064,872
US/Canadian $
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) | 83,855,136 US/Canadian $ |
| Community development financial institutions (CDFIs) or the equivalent | 6,639,002 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 $ |
If any of the above is greater than zero, provide:
Sustainable Investment Funds (as of 6/30/23)
DFA US Sustainability
Dimensional’s sustainability strategies are designed to reduce exposure to higher carbon intensity companies and increase exposure to lower carbon intensity companies. $35,641,494.00 13.25%
DFA International Sustainability
See DFA US, above.
$18,314,405.00 6.81%
MS Global Sustainability
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. $13,224,667.00 4.92%
Breckinridge Intermediate Sustainable 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. $12,049,249.00 4.48%
Cowen Sustainable
With a focus on companies of proven technologies and products that can be enhanced with data analytics resources as well as strong management teams, the investment themes pursued by CSI include clean transportation, sustainable food production, industrial efficiency as well as renewables and storage.
$4,625,321.00 1.72%
Rose Affordable Housing Preservation Fund IV
Rose’s fourth 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. Through this fund, Rose aims to provide safe, energy efficient and affordable housing as a stable base for families and seniors and to connect residents with a range of health, educational and social services. Rose will also certify properties with Enterprise Green Communities, a national standard for energy efficiency and wellness and will partner with leading national foundations and schools of public health to measure outcomes for low-income residents.
$5,301,954.00 1.97%
Rose Affordable Housing Preservation Fund V
See Rose IV, above $1,337,048.00 0.50%
TOTAL SUST FUND $90,494,138.00 33.63%
DFA US Sustainability Core 1 - $35,641,494 - 11.64%
DFA International Sustainability Core 1 - $15,713,911 - 6.15%
_____
MS Global Sustainability - $11,540,988 - 4.52%
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.
_____
Cowen Sustainable Income - $3,666,969 - 1.44%
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 - $12,004,796 - 4.7%
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.
____________
Community development financial institutions
Rose Affordable Housing Preservation Fund IV - $5,072,021
Rose’s fourth 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. Through this fund, Rose aims to provide safe, energy efficient and affordable housing as a stable base for families and seniors and to connect residents with a range of health, educational and social services. Rose will also certify properties with Enterprise Green Communities, a national standard for energy efficiency and wellness and will partner with leading national foundations and schools of public health to measure outcomes for low-income residents.
___
Rose Affordable Housing Preservation Fund V - $1,035,119 - 0.41%
_____
Subsequent to June 30, 2022, the Institute has committed $5 million to the Kendall Sustainable Infrastructure Fund. Kendall is focused on providing take-out and construction financing to build renewable energy and other infrastructure projects with the ultimate goal of asset ownership.
DFA US Sustainability
Dimensional’s sustainability strategies are designed to reduce exposure to higher carbon intensity companies and increase exposure to lower carbon intensity companies. $35,641,494.00 13.25%
DFA International Sustainability
See DFA US, above.
$18,314,405.00 6.81%
MS Global Sustainability
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. $13,224,667.00 4.92%
Breckinridge Intermediate Sustainable 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. $12,049,249.00 4.48%
Cowen Sustainable
With a focus on companies of proven technologies and products that can be enhanced with data analytics resources as well as strong management teams, the investment themes pursued by CSI include clean transportation, sustainable food production, industrial efficiency as well as renewables and storage.
$4,625,321.00 1.72%
Rose Affordable Housing Preservation Fund IV
Rose’s fourth 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. Through this fund, Rose aims to provide safe, energy efficient and affordable housing as a stable base for families and seniors and to connect residents with a range of health, educational and social services. Rose will also certify properties with Enterprise Green Communities, a national standard for energy efficiency and wellness and will partner with leading national foundations and schools of public health to measure outcomes for low-income residents.
$5,301,954.00 1.97%
Rose Affordable Housing Preservation Fund V
See Rose IV, above $1,337,048.00 0.50%
TOTAL SUST FUND $90,494,138.00 33.63%
DFA US Sustainability Core 1 - $35,641,494 - 11.64%
DFA International Sustainability Core 1 - $15,713,911 - 6.15%
_____
MS Global Sustainability - $11,540,988 - 4.52%
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.
_____
Cowen Sustainable Income - $3,666,969 - 1.44%
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 - $12,004,796 - 4.7%
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.
____________
Community development financial institutions
Rose Affordable Housing Preservation Fund IV - $5,072,021
Rose’s fourth 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. Through this fund, Rose aims to provide safe, energy efficient and affordable housing as a stable base for families and seniors and to connect residents with a range of health, educational and social services. Rose will also certify properties with Enterprise Green Communities, a national standard for energy efficiency and wellness and will partner with leading national foundations and schools of public health to measure outcomes for low-income residents.
___
Rose Affordable Housing Preservation Fund V - $1,035,119 - 0.41%
_____
Subsequent to June 30, 2022, the Institute has committed $5 million to the Kendall Sustainable Infrastructure Fund. Kendall is focused on providing take-out and construction financing to build renewable energy and other infrastructure projects with the ultimate goal of asset ownership.
Percentage of the institution's investment pool in positive sustainability investments:
33.63
Part 2. Investor engagement
Sustainable investment policy
No
None
A copy of the sustainable investment policy:
---
None
The sustainable investment policy:
---
None
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:
---
Proxy voting
No
None
A copy of the proxy voting guidelines or proxy record:
---
None
A brief description of how managers are adhering to proxy voting guidelines:
---
Shareholder resolutions
No
Examples of how the institution has engaged with corporations in its portfolio about sustainability issues during the previous three years:
---
Divestment efforts and negative screens
Yes
A brief description of the divestment effort or negative screens and how they have been implemented:
Yes, in 2016 after requests from students, faculty and staff, the Board of Trustees voted to divest from its investments in fossil fuels. Currently, the endowment portfolio contains approximately .02% of investment in companies included in the Carbon200 Underground list.
Approximate percentage of endowment that the divestment effort and/or negative screens apply to:
100
Investor networks
Yes
None
A brief description of the investor networks and/or collaborations:
Yes, the Institute is a Founding Member of The Intentional Endowments Network (intentionalendowments.org). IEN is a non-profit, peer-learning network advancing intentionally designed endowments – those that seek to enhance financial performance by making investments that advance an equitable, low carbon, and regenerative economy.
Optional Fields
Additional documentation to support the submission:
Data source(s) and notes about the submission:
Cathleen Kenny - Vice President for Finance and Administration
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 stars@aashe.org.