| Overall Rating | Gold - expired |
|---|---|
| Overall Score | 71.70 |
| Liaison | Marianne Martin |
| Submission Date | Sept. 22, 2014 |
| Executive Letter | Download |
University of Colorado Boulder
PA-14: Sustainable Investment
| Status | Score | Responsible Party |
|---|---|---|
|
1.73 / 4.00 |
Dennis
Piper VP, Chief Financial Officer CU Foundation |
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) | 49,254,907 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) | 15,248,887 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 loan funds that are funded from the endowment | 0 US/Canadian $ |
A brief description of the companies, funds, and/or institutions referenced above:
Venture capital firm #1 provides start-up capital and operating leadership to companies in the clean energy, digital media (IT), and life sciences sectors. Recent investments have largely been weighted to the clean technology sector. Venture capital firm #2 provides growth capital for mid to late stage venture companies within the clean technology and life sciences sectors. Private equity firm #1 makes mezzanine and equity investments in energy and energy-related infrastructure, which include investing in clean energy, coal mining, and fuel additives. Private equity firm #2 seeks to create a sizable portfolio of land and livestock enterprises (sheep and cattle) and, subsequently, use technology and advanced herd management techniques to improve efficiencies of pasture-land operations.
Does the institution have a publicly available sustainable investment policy?:
A copy of the sustainable investment policy:
The sustainable investment policy:
Per the University of Colorado Foundation Shareholder Responsibility Guidelines, "The University of Colorado Foundation, to the degree to which it can reasonably evaluate the impact of a proposition, will attempt to vote for propositions which seek to eliminate or reduce the social injury caused by a company's activities to the degree that there is no negative economic impact to the Foundation's assets."
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 University of Colorado Foundation adheres to a Sudan Divestment Policy. As part of that policy, a negative screen of the entire investment pool is conducted annually. Securities that would be in violation of the policy are identified and managers are then formally asked in writing to sell positions that violate the terms of the policy. This has been done in writing on more than one occasion over the last three years.
Does the institution's sustainable investment policy include negative screens?:
A brief description of the negative screens and how they have been implemented:
The goal of the Sudan Divestment Policy is to allow for maximum impact on the government of Sudan while minimizing harms to both Sudanese citizens and portfolio returns. The implementation of the Policy utilizes a third-party database, the EIRIS Conflict Risk Network (http://crn.eiris.org/), which identifies companies that meet the following targeted Sudan divestment criteria:
1. Have a business relationship with the government or a government-created project;
2. Impart minimal benefit to the country’s underprivileged; and
3. Have demonstrated no substantial corporate governance policy regarding the Darfur situation.
The Foundation’s investments are screened for the inclusion of any offending securities. As necessary, the Foundation then provides notice to any investment managers within the portfolio that hold any of the offending securities and requests that the securities be divested. The Foundation’s Long-Term Investment Pool has been successful in reducing exposure to offensive securities to 0.05%, well below the target limit of 0.50%.
Approximate percentage of the endowment that the negative screens apply to:
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:
Per the University of Colorado Foundation Shareholder Responsibility Guidelines, "The University of Colorado Foundation, to the degree to which it can reasonably evaluate the impact of a proposition, will attempt to vote for propositions which seek to eliminate or reduce the social injury caused by a company's activities to the degree that there is no negative economic impact to the Foundation's assets."
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:
The University of Colorado Foundation adheres to a Sudan Divestment Policy.
As part of that policy, a negative screen of the entire investment pool is conducted annually. Securities that could be in violation of the policy are identified and managers are then formally asked in writing to sell positions that violate the terms of the policy. This has been done in writing on more than one occasion over the last three years.
Does the institution engage in policy advocacy by participating in investor networks and/or engaging in inter-organizational collaborations to share best practices?:
A brief description of the investor networks and/or collaborations:
N/A
The website URL where information about the institution's sustainable investment efforts is available:
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.