| Overall Rating | Gold |
|---|---|
| Overall Score | 78.11 |
| Liaison | Kristin Larson |
| Submission Date | Oct. 23, 2023 |
San Diego State University
PA-10: Sustainable Investment
| Status | Score | Responsible Party |
|---|---|---|
|
1.95 / 3.00 |
David
Fuhriman Chief Financial Officer The Campanile Foundation |
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) | 59,021.74 US/Canadian $ |
| Businesses selected for exemplary sustainability performance (e.g., using criteria specified in a sustainable investment policy) | 79,084,638.49 US/Canadian $ |
| Sustainability investment funds (e.g., a renewable energy or impact investment fund) | 2,645,209.40 US/Canadian $ |
| Community development financial institutions (CDFIs) or the equivalent | 0 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:
Sustainability investment funds (e.g., a renewable energy or impact investment fund):
DBL / Partners IV
Technology Impact Fund II
The Rise Fund III LP
Businesses selected for exemplary sustainability performance (e.g., using criteria specified in a sustainable investment policy):
Wellington / Core Bond Fund
Brandywine U.S. Fixed Income
UBS Trumbull Property Fund
AB Global Core Equity
Payden Emerging Markets Debt
Sustainable industries (e.g., renewable energy or sustainable forestry):
Ara Fund III, LP
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:
It is a core value of the Foundation to invest the Foundation's assets in a socially responsible way. As such, the Board of Directors will continually strive to strike an appropriate balance between its social responsibility and its fiduciary duty to create financial returns that will help fund the University. The Board of Directors also recognizes that, in many cases, their ability to directly enforce customized investment guidelines may be limited. The Foundation invests mainly in commingled vehicles such as mutual funds, which limit the ability of any individual investor to enforce customized investment parameters. The Foundation will direct its Investment Advisor and investment managers to invest in businesses that are as consistent as possible with its social values, while balancing the financial return to the Foundation, advancing its long term interests and supporting the University's mission.
The Foundation expects the market to mature and for investment opportunities to generate specific quantifiable ESG impacts, such as energy transition, resiliency from physical climate risk, and divestment from investments in the Carbon Underground 200. The Committee will monitor the progress of the market.
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:
The Foundation will direct its Investment Advisor and investment managers to invest in businesses that are as consistent as possible with its social values, while balancing the financial return to the Foundation, advancing its long term interests and supporting the University's mission.
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:
Quote from State Street Global Advisors' proxy voting guidelines:
"As a fiduciary, State Street Global Advisors takes a comprehensive approach to engaging with our portfolio companies about material environmental and social (sustainability) issues. We use our voice and our vote through engagement, proxy voting, and thought leadership in order to communicate with issuers and educate market participants about our perspective on important sustainability topics. Our Asset Stewardship program prioritization process allows us to proactively identify companies for engagement and voting in order to mitigate sustainability risks in our portfolio. Through engagement, we address a broad range of topics that align with our thematic priorities and build long-term relationships with issuers. When voting, we fundamentally consider whether the adoption of a shareholder proposal addressing a material sustainability issue would promote longterm shareholder value in the context of the company’s existing practices and disclosures as well as existing market practice."
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:
Payden & Rygel, one of TCF's investment managers, is a signatory to the Net Zero Asset Managers initiative that aims to drive solutions and take action on the world’s most pressing sustainability issues.
https://www.netzeroassetmanagers.org/signatories/payden-rygel/
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:
Coordination and collaboration assisted by institutional investor organizations such as
* Investor Stewardship Group
* Principles for Responsible Investment
* Council of Institutional Investors
* CARES, Investor Network on Climate Change
* Climate Action 100+
* Sustainable Accounting Standards Board
* Net Zero Asset Owner Alliance
Website URL where information about the institution’s sustainable investment efforts is available:
Additional documentation to support the submission:
Data source(s) and notes about the submission:
- This information comes from David Fuhriman, CFO of the Campanile Foundation.
- This information comes from David Fuhriman, CFO of the Campanile Foundation.
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.