Overall Rating Gold - expired
Overall Score 71.18
Liaison Kelli O'Day
Submission Date Sept. 13, 2013
Executive Letter Download

STARS v1.2

University of California, Davis
PAE-16: Committee on Investor Responsibility

Status Score Responsible Party
Complete 0.00 / 2.00 Camille Kirk
Director of Sustainability and Campus Sustainability Planner
Office of Sustainability
"---" indicates that no data was submitted for this field

Does the institution have a committee on investor responsibility or similar body that meets the criteria for this credit?:

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 :

At this time, the UC Regents do not have a Committee on Investor Responsibility.

Members of the CIR, including affiliations:

At this time, the UC Regents do not have a Committee on Investor Responsibility.

Recent examples (within the past 3 years) of CIR actions:

The website URL where information about the committee is available:

Neither the UC Regents Endowment Fund the UC Davis Endowment Fund nor have investment responsibility committees.

The Foundation remains interested in issues of sustainability and the Treasurer of The UC Davis Foundation has met with students interested in Socially Responsible investing.

The Endowment investment policy diversifies investments and provides a balance to enhance total return while avoiding undue risk in any single asset class or investment category. The UC Regents manage 19% of the UC Davis Endowment Fund's assets and external investment managers manage the other 81%. On June 30, 2012, about 5.5% ($360M) of the managed Regents’ Endowment Fund are in Emerging Markets, which have recently been populated by environmental, and CleanTech equities, and the Regents’ benchmark of performance is on the MSCI Emerging Market Free Net.

Additionally, The UC Regents have prohibited the purchase of securities issued by tobacco companies. The purchase of securities issued by tobacco companies is prohibited in separately managed accounts as well. The Regents have defined a tobacco company as “a company which derives its revenues from the manufacture and distribution of tobacco products or, if a diversified company, that no other business line contributes more revenues or earnings than tobacco products." The Treasurer will determine what constitutes a tobacco company based on standard industry classification of the major index providers (e.g., Russell, MSCI) and communicate this list to investment managers annually and whenever changes occur. The Committee recognizes that the establishment of social investing restrictions limits investment opportunities and should be accompanied by adjusting performance evaluation standards appropriately.

The UC Davis Foundation is a nonprofit 501(c)(3) corporation in response to the University's recognition that private support is essential to maintaining and enhancing the margin of excellence at UC Davis. The Foundation helps UC Davis obtain private gifts (in support of research, teaching, and public service) and manages the gift assets. Distinguished community members, University administrators, and faculty and alumni representatives make up the 48-member Board of Trustees that governs the Foundation. The Board meets quarterly in regular session, and the Foundation's standing committees meet throughout the year to review Foundation business and to recommend action. The Foundation's standing committees include Audit, Development, Executive, Investment/Finance, and Nominating.

The Foundation accepts, administers, and invests private gifts in the form of cash and real or personal property and manages the funds either as endowments or as funds available for current expenditure. The Foundation’s net assets at June 30, 2012 were $263.7 million, of which the endowment comprised approximately $211.1 million. (These amounts are stated without regard to GASB 33 accounting rules for comparative purposes for the past ten years.)

From the Foundation's inception, members of the Board of Trustees have formed a crucial link between UC Davis and the community. The Trustees communicate about UC Davis to the public, and in so doing, build interest in the campus and support for its programs. The excellence that UC Davis has achieved has been assisted by the community, and the Trustees and volunteers who serve the UC Davis Foundation continue to play a critical role in the growth and success of the campus.

Major initiatives at UC Davis funded through gifts to the Foundation include the Center for Mind and Brain, the Mind Institute, Robert and Margrit Mondavi Center for the Performing Arts, Energy Efficiency Center, Child Family Institute for Innovation and Entrepreneurship, Campus Arboretum, CAES: Agricultural Sustainability Institute, Robert Mondavi Institute for Wine and Food Science (RMI), 21 endowed professorships, 223 student scholarships and fellowships, 61 department chairs, research support, departmental support, and support for unrestricted gifts. Buildings constructed with partial or full funding from gifts to the Foundation include the Robert Mondavi Institute for Wine and Food Science (RMI) which is LEED Platinum certified, the Mondavi Center for the Performings Arts, and substantial commitments for the Jan Shrem and Maria. Manetti Farrow Museum of Art to be completed in 2015. The continuing growth in these areas is a reflection of the University's commitment to the development of private support to sustain its quest for excellence.

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.