Overall Rating Gold - expired
Overall Score 65.20
Liaison Olivia Conner-Bennett
Submission Date March 2, 2020

STARS v2.2

Stevens Institute of Technology
PA-10: Sustainable Investment

Status Score Responsible Party
Complete 0.25 / 3.00 Joe Cassidy
AVP
Finance
"---" indicates that no data was submitted for this field

Part 1. Positive sustainability investment

Total value of the investment pool:
224,000,000 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) 0 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:
---

Percentage of the institution's investment pool in positive sustainability investments:
0

Part 2. Investor engagement

Sustainable investment policy 

Does the institution have a publicly available sustainable investment policy?:
No

None
A copy of the sustainable investment policy:
PA_10_-_Goldman_Env_Stewardship.pdf

None
The sustainable investment policy:
"We are committed to helping our clients position themselves for a future in which sustainability is core to all industries and integrated across markets, with successful commercial solutions. We will achieve this vision by doing what we do best — invest, finance, advise, and innovate — to drive global climate transition and inclusive growth strategies that accelerate positive change. That’s why we’re targeting $750 billion in sustainable finance growth themes by 2030." - Goldman Sachs, Stevens' endowment investment manager

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:
Goldman Sachs serves as the outsourced Chief Investment Officer (CIO) for Stevens and is responsible for making investment recommendations to the Investment Committee of the university. Goldman Sachs currently manages 87% of the endowment investments, most of which are passive investments in ETFs (exchange-traded funds). As per the above stated mission and the attached document, Goldman is pursuing increased investments in sustainable/socially responsible funds.

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:
There is a formal record kept in the minutes, but there is no proxy voting or delegation of votes.

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:
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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:
---

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

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:
---

Optional Fields 

Website URL where information about the institution’s sustainable investment efforts is available:
https://www.goldmansachs.com/what-we-do/sustainable-finance/index.html

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.