| Overall Rating | Gold |
|---|---|
| Overall Score | 83.87 |
| Liaison | Yolanda Cieters |
| Submission Date | March 1, 2024 |
Seattle University
PA-9: Committee on Investor Responsibility
| Status | Score | Responsible Party |
|---|---|---|
|
2.00 / 2.00 |
Yolanda
Cieters Associate Director CEJS |
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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:
- In 2015, Seattle University created the Socially Responsible Investment (SRI) Task Force as a way to explore options in which the university could further its commitment to social responsibility in making endowment investments consistent with the Investment Policy Statement. One of the recommendations adopted by the Board of Trustees was to establish a working group to engage with interested students, faculty and staff on relevant matters of social responsibility in investing and advise the endowment’s Investment Committee on an ongoing basis.
- The SRI Advisory Working Group (2017) served as the liaison between the campus community and the Investment Committee. The Working Group heard, reviewed and made recommendations to the Investment Committee on concerns of the campus community relating to socially responsible investments pertaining to the endowment; it had no power or authority other than to make recommendations.
- In Fall 2022 the university adopted as its foundational goal in its five-year strategic plan:
“We will commit to institutional participation in Pope Francis’ seven-year journey toward integral ecology, through the Laudato Si Action Platform and in community with other catholic universities.”
One of the four priorities of the plan for implementing the university’s adoption of the Laudato Si Action Platform (LSAP) is “Practicing Socially Responsible Consumption, Purchasing and Investment” and leadership decided that a new CIR be formed to address the socially responsible investment objective of the LSAP priority. In 2023, so as to be aligned with the university’s strategic plan, the SRI initiative was dissolved and the LSAP Investments Work Group was created to replace it.
The primary objective of the LSAP Investments Work Group is to:
“Advance the implementation of Seattle University’s (SU’s) sustainable investment efforts with the goal to increase the percentage of positive sustainable investments (environmental, social, and corporate governance [ESG] criteria) in SU’s endowment.”
Like the SRI Working Group, the LSAP Investments Working Group has faculty, non-academic staff and student representation and has no power or authority other than to make recommendations to the Investment Committee.
The Investment Committee considers CIR recommendations as it evaluates investment options for the endowment while guided by the following charge in the Investment Policy Statement:
“Consistent with the University’s Jesuit Catholic values, the (Investment) Committee will consider the University’s commitment to ethics and social responsibility in making investment decisions. While the Committee remains committed to its fiduciary duty to the University’s long-term financial growth and sustainability, it also recognizes the value of non-traditional investment opportunities in providing a reasonable return as well as furthering the University’s mission and values.”
- The SRI Advisory Working Group (2017) served as the liaison between the campus community and the Investment Committee. The Working Group heard, reviewed and made recommendations to the Investment Committee on concerns of the campus community relating to socially responsible investments pertaining to the endowment; it had no power or authority other than to make recommendations.
- In Fall 2022 the university adopted as its foundational goal in its five-year strategic plan:
“We will commit to institutional participation in Pope Francis’ seven-year journey toward integral ecology, through the Laudato Si Action Platform and in community with other catholic universities.”
One of the four priorities of the plan for implementing the university’s adoption of the Laudato Si Action Platform (LSAP) is “Practicing Socially Responsible Consumption, Purchasing and Investment” and leadership decided that a new CIR be formed to address the socially responsible investment objective of the LSAP priority. In 2023, so as to be aligned with the university’s strategic plan, the SRI initiative was dissolved and the LSAP Investments Work Group was created to replace it.
The primary objective of the LSAP Investments Work Group is to:
“Advance the implementation of Seattle University’s (SU’s) sustainable investment efforts with the goal to increase the percentage of positive sustainable investments (environmental, social, and corporate governance [ESG] criteria) in SU’s endowment.”
Like the SRI Working Group, the LSAP Investments Working Group has faculty, non-academic staff and student representation and has no power or authority other than to make recommendations to the Investment Committee.
The Investment Committee considers CIR recommendations as it evaluates investment options for the endowment while guided by the following charge in the Investment Policy Statement:
“Consistent with the University’s Jesuit Catholic values, the (Investment) Committee will consider the University’s commitment to ethics and social responsibility in making investment decisions. While the Committee remains committed to its fiduciary duty to the University’s long-term financial growth and sustainability, it also recognizes the value of non-traditional investment opportunities in providing a reasonable return as well as furthering the University’s mission and values.”
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:
The most recent (FY23) SRI Working Group representatives were:
•Bob Grimm, S.J., Board of Trustees and Investment Committee Representative (SRI Working Group Chair)
•Melvin Flowers, Board of Trustees
•Anita Crawford-Willis, Board of Trustees
•Jason Malinowski, Investment Committee Representative - Chief Investment Officer, Seattle City Employees’ Retirement System
•Wes Lauer, Ph.D., P.E., Faculty Representative – Chair and Professor, Civil and Environmental Engineering
•Cathy Cao, Ph.D., C.F.A., Faculty Representative – Professor, Department of Finance
•Yolanda Cieters, Staff Representative – Associate Director of Sustainability
•Laura Walker, Undergraduate Student Representative
•Jaanhavi Kannan, Graduate Student Representative
The new Laudato Si Action Platform (LSAP) Investment Working Group will convene in early 2024. Representatives will be:
•Chris Malins, Staff Representative – Vice President and Chief Financial Officer
•Wes Lauer, Ph.D., P.E., Faculty Representative - Chair and Professor, Civil and Environmental Engineering
•Yolanda Cieters, Staff Representative – Associate Director of Sustainability
•Bret Myers, Staff Representative – Director, Treasury and Risk Management
•TBD, Staff Representative – Marketing and Communications
•TBD, Undergraduate Student Representative
•TBD, Graduate Student Representative
•Bob Grimm, S.J., Board of Trustees and Investment Committee Representative (SRI Working Group Chair)
•Melvin Flowers, Board of Trustees
•Anita Crawford-Willis, Board of Trustees
•Jason Malinowski, Investment Committee Representative - Chief Investment Officer, Seattle City Employees’ Retirement System
•Wes Lauer, Ph.D., P.E., Faculty Representative – Chair and Professor, Civil and Environmental Engineering
•Cathy Cao, Ph.D., C.F.A., Faculty Representative – Professor, Department of Finance
•Yolanda Cieters, Staff Representative – Associate Director of Sustainability
•Laura Walker, Undergraduate Student Representative
•Jaanhavi Kannan, Graduate Student Representative
The new Laudato Si Action Platform (LSAP) Investment Working Group will convene in early 2024. Representatives will be:
•Chris Malins, Staff Representative – Vice President and Chief Financial Officer
•Wes Lauer, Ph.D., P.E., Faculty Representative - Chair and Professor, Civil and Environmental Engineering
•Yolanda Cieters, Staff Representative – Associate Director of Sustainability
•Bret Myers, Staff Representative – Director, Treasury and Risk Management
•TBD, Staff Representative – Marketing and Communications
•TBD, Undergraduate Student Representative
•TBD, Graduate Student Representative
None
Examples of CIR actions during the previous three years:
- On June 30, 2023 Seattle University fulfilled the resolution approved by its Board of Trustees in 2018 to be completely divested of investments in companies with fossil fuel reserves in the marketable portion of the endowment’s portfolio. The university is the first higher education institution in Washington state and the first Jesuit Catholic university in the country to fulfill this commitment of divestment.
- In June 2022 the university’s Board of Trustees approved the Environmental, Social, and Governance (ESG) Addendum to the Investment Policy Statement. The ESG Addendum was developed by the Socially Responsible Investment (SRI) Advisory Working Group and was recommended by the endowment’s Investment Committee that the Board approve it. The purpose of this addendum is to provide the OCIO (Outsourced Chief Investment Officer) with ESG considerations that are to be evaluated along with other factors when selecting investments for the endowment.
- In 2023 the SRI Advisory Working Group was dissolved and the Laudato Si Action Plan Investments Working Group was created as the new CIR. The purpose of the change is to be aligned with the foundational goal of the university’s five year strategic plan. More information is provided in the response to the first question of this credit PA-9.
- In June 2022 the university’s Board of Trustees approved the Environmental, Social, and Governance (ESG) Addendum to the Investment Policy Statement. The ESG Addendum was developed by the Socially Responsible Investment (SRI) Advisory Working Group and was recommended by the endowment’s Investment Committee that the Board approve it. The purpose of this addendum is to provide the OCIO (Outsourced Chief Investment Officer) with ESG considerations that are to be evaluated along with other factors when selecting investments for the endowment.
- In 2023 the SRI Advisory Working Group was dissolved and the Laudato Si Action Plan Investments Working Group was created as the new CIR. The purpose of the change is to be aligned with the foundational goal of the university’s five year strategic plan. More information is provided in the response to the first question of this credit PA-9.
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