Overall Rating Gold
Overall Score 71.99
Liaison Aaron Klemm
Submission Date Jan. 19, 2024

STARS v2.2

San Jose State University
PA-10: Sustainable Investment

Status Score Responsible Party
Complete 0.71 / 3.00 Paul Forkner
Director of Foundation Accounting
Tower Foundation of SJSU
"---" indicates that no data was submitted for this field

Part 1. Positive sustainability investment

Total value of the investment pool:
170,334,020 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) 7,246,010 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 $

If any of the above is greater than zero, provide:

A brief description of the companies, funds, and/or institutions referenced above:
The fund referenced above has the following breakout as of 12.31.19

Emphasis on environmental sustainability (funds): 40.5%
Socially responsive funds (bonds and mutual funds): 54.2%
Affordable housing: 5.1%
Cash in the portfolio: 0.2%

Percentage of the institution's investment pool in positive sustainability investments:
4.25

Part 2. Investor engagement

Sustainable investment policy 

Does the institution have a publicly available sustainable investment policy?:
Yes

None
A copy of the sustainable investment policy:
Tower_Foundation_IPS_Feb_2022_-_Approved_2-23-22.pdf

None
The sustainable investment policy:
https://www.sjsu.edu/towerfoundation/docs/Tower%20Foundation%20IPS%20Feb%202022%20-%20Approved%202-23-22.pdf

None
Does the institution use its sustainable investment policy to select and guide investment managers?:
Yes

A brief description of how the sustainable investment policy is applied:
The Board has discussed and reviewed the Foundation’s role in the areas of Environmental, Social and Governance (ES&G) and Socially Responsible Investing (SRI) as they apply to the investment portfolio of the Foundation. It is the Foundation’s intention that, as long as returns to the endowment are not detrimentally impacted, the Foundation prefers to invest with fund managers who have incorporated ES&G and SRI principles in their investment processes.

To encourage Investment Managers to integrate ES&G and SRI the Finance and Investment Committee of the Tower Foundation takes the following actions:

Include a clause requiring Investment Managers to consider ES&G and SRI issues within their investment processes in all new or renegotiated fund manager guidelines.

Assess Investment Managers’ abilities to incorporate ES&G and SRI in their investment process as part of the manager assessment and due diligence process.

Encourage Investment Managers to review the PRI and to source and review ES&G and SRI related research.

Proxy voting 

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?:
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:
N/A

Shareholder resolutions 

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?:
No

Examples of how the institution has engaged with corporations in its portfolio about sustainability issues during the previous three years:
N/A

Divestment efforts and negative screens

Does the institution participate in a public divestment effort and/or have a publicly available investment policy with negative screens?:
No

A brief description of the divestment effort or negative screens and how they have been implemented:
N/A

Approximate percentage of endowment that the divestment effort and/or negative screens apply to:
0

Investor networks 

Does the institution engage in policy advocacy by participating in investor networks and/or engage in inter-organizational collaborations to share best practices?:
No

None
A brief description of the investor networks and/or collaborations:
N/A

Optional Fields 

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:
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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.