| Overall Rating | Gold - expired |
|---|---|
| Overall Score | 68.02 |
| Liaison | Beth Klein |
| Submission Date | Feb. 25, 2019 |
| Executive Letter | Download |
State University of New York at Cortland
PA-9: Sustainable Investment
| Status | Score | Responsible Party |
|---|---|---|
|
2.06 / 4.00 |
Beth
Klein Campus Sustainability Coordinato Early Childhood Education |
Does the institution wish to pursue Option 1 (positive sustainability 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) | --- |
| Businesses selected for exemplary sustainability performance (e.g. using criteria specified in a sustainable investment policy) | 1,149,807 US/Canadian $ |
| Sustainability investment funds (e.g. a renewable energy or impact investment fund) | 1,149,807 US/Canadian $ |
| Community development financial institutions (CDFIs) or the equivalent | --- |
| Socially responsible mutual funds with positive screens (or the equivalent) | 1,149,807 US/Canadian $ |
| Green revolving loan funds that are funded from the endowment | --- |
A brief description of the companies, funds, and/or institutions referenced above:
Three investment managers were utilized. All three managers use positively screened, best-in-class ESG processes across their entire portfolios, in line with the social impact guidelines within the Cortland College Foundation investment policy statement.
Percentage of the institution's investment pool in positive sustainability investments:
Does the institution wish to pursue Option 2 (investor engagement)?:
Does the institution have a publicly available sustainable investment policy?:
A copy of the sustainable investment policy:
The sustainable investment policy:
Social Impact Policy
The Cortland College Foundation acknowledges that factors beyond just financial return may be considered in making investment decisions. The Foundation further recognizes its responsibility to its constituents and to the community as a whole, which stand to benefit from the ongoing prosperity and prudent management of the Foundation’s investment portfolio.
As such, from time to time, the Foundation may seek to align its endowment with sustainable companies, including but not limited to companies that can generate positive environmental and social impact alongside a competitive financial return. In considering sustainable or socially responsible investment asset classes that are supportive of people and communities, the Foundation will use Environmental, Social and Governance (ESG) ratings as a guide.
The Foundation will periodically reassess the policy and market opportunities as the long-term investment objectives and social impact landscape evolve.
Formally adopted in February 2018
Does the institution use its sustainable investment policy to select and guide investment managers?:
A brief description of how the policy is applied, including recent examples:
The guiding investment Social Impact Policy provides a basis for the CIR to function in relation to social, environmental and governance concerns. In addition to the ESG screening, It is the Committee's desire that no funds be directly invested in the securities of any company primarily engaged in the production of alcoholic beverages or tobacco products. The Investment Manager will note the restriction to all sub-advisors.
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:
We are doing this as of February 2018. We have NOT done this for the 3-year period.
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:
Does the institution have a publicly available investment policy with negative screens?:
A brief description of the negative screens and how they have been implemented:
The guiding investment Social Impact Policy is an internal document and not shared publicly unless requested. Requests for this information can be submitted through the SUNY Cortland Foundation Website, http://www2.cortland.edu/offices/foundation/index.dot
Approximate percentage of the endowment that the 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:
SUNY-wide endowments are managed by the institutionally related foundations. The financial managers / directors of these organization relate and communicate through a list-serve provided by the SUNY system / SUNY Foundation Finance Officers Group. The group meets annually to discuss best practices and address current industry challenges, but also works to develop a network for all foundations to work in other less formal ad-hoc practices to improve impact of the foundations and ultimately increase access to higher education.
The website URL where information about the programs or initiatives is available:
Additional documentation to support the submission:
Data source(s) and notes about 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 stars@aashe.org.