University of Maryland, Baltimore County
PA-10: Sustainable Investment
| Status | Score | Responsible Party |
|---|---|---|
|
2.27 / 5.00 |
"---"
indicates that no data was submitted for this field
Part 1. Positive sustainability investment
1,465,765,046
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) | 104,000,000 US/Canadian $ |
| Community development financial institutions (CDFIs) or the equivalent | 0 US/Canadian $ |
| Socially responsible mutual funds with positive screens (or the equivalent) | 1,700,000 US/Canadian $ |
| Green revolving funds funded from the endowment | 0 US/Canadian $ |
If any of the above is greater than zero, provide:
The University System of Maryland Foundation (USMF) invests about $104 million from its endowment in public equity strategies featuring active engagement on material environmental, social, and governance (ESG) risks. USMF also invests around $1.7 million in an Exchange Traded Fund reducing carbon intensity of global equity index exposure.
Percentage of the institution's investment pool in positive sustainability investments:
7.21
Part 2. Investor engagement
Sustainable investment policy
Yes
None
A copy of the sustainable investment policy:
None
The sustainable investment policy:
See attached.
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:
1) In FY 17, the University System of Maryland Foundation made zero direct investments in Carbon Underground 200 companies.
2) The Foundation became a signatory to the United Nations Principles for Responsible Investment in FY 17.
3) IN FY17 the Foundation sent letters to each of our investment managers and called each of our managers to advise them that we would prefer that they choose investments in renewable energy over fossil fuel, all else being equal. The Foundation will refresh this letter and send it again to all of our managers.
4) he Foundation maintains its 2016 commitment not to make any direct investments in companies on the Carbon Underground 200 (also known as the Carbon Tracker 200) list, which is a list of the top 100 public coal companies globally and the top 100 public oil and gas companies globally, as ranked by the potential carbon emissions content of their reported reserves. In addition, effective starting February 2020, the Foundation ceased allocating capital to managers that invest primarily in fossil fuel extraction, and it will allow existing investments in existing managers to run off. The Foundation may, consistent with its fiduciary duty, continue to make tactical investments in managers pursuing resource-related strategies which, in the Foundation’s judgment, do not pose a material risk to the Endowment. The Foundation will continue to pursue investments in renewable and alternative energy sources and related activities that it believes will meet the long-term risk and return objectives of the Endowment.
2) The Foundation became a signatory to the United Nations Principles for Responsible Investment in FY 17.
3) IN FY17 the Foundation sent letters to each of our investment managers and called each of our managers to advise them that we would prefer that they choose investments in renewable energy over fossil fuel, all else being equal. The Foundation will refresh this letter and send it again to all of our managers.
4) he Foundation maintains its 2016 commitment not to make any direct investments in companies on the Carbon Underground 200 (also known as the Carbon Tracker 200) list, which is a list of the top 100 public coal companies globally and the top 100 public oil and gas companies globally, as ranked by the potential carbon emissions content of their reported reserves. In addition, effective starting February 2020, the Foundation ceased allocating capital to managers that invest primarily in fossil fuel extraction, and it will allow existing investments in existing managers to run off. The Foundation may, consistent with its fiduciary duty, continue to make tactical investments in managers pursuing resource-related strategies which, in the Foundation’s judgment, do not pose a material risk to the Endowment. The Foundation will continue to pursue investments in renewable and alternative energy sources and related activities that it believes will meet the long-term risk and return objectives of the Endowment.
Proxy voting
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:
---
Shareholder resolutions
No
Examples of how the institution has engaged with corporations in its portfolio about sustainability issues during the previous three years:
The University System of Maryland Foundation (USMF) does not hold direct investments in individual companies and therefore would not have the opportunity to file or co-file a shareholder resolution or submit a letter about social or environmental responsibility to a company in which it directly holds investments.
Divestment efforts and negative screens
Yes
A brief description of the divestment effort or negative screens and how they have been implemented:
The Foundation will make no direct investments in the Carbon Underground 200 companies.
The Carbon Underground 200 (sometimes referred to as the Carbon Tracker 200) is an annually updated listing of the top 100 public coal companies globally and the top 100 public oil and gas companies globally, ranked by the potential carbon emissions content of their reported reserves. The list is produced and maintained by Fossil Free Indexes, LLC. In FY 17, the University System of Maryland Foundation made zero direct investments in Carbon Underground 200 companies.
The Carbon Underground 200 (sometimes referred to as the Carbon Tracker 200) is an annually updated listing of the top 100 public coal companies globally and the top 100 public oil and gas companies globally, ranked by the potential carbon emissions content of their reported reserves. The list is produced and maintained by Fossil Free Indexes, LLC. In FY 17, the University System of Maryland Foundation made zero direct investments in Carbon Underground 200 companies.
Approximate percentage of endowment that the divestment effort and/or negative screens apply to:
100
Investor networks
Yes
None
A brief description of the investor networks and/or collaborations:
In July 2016, USMF joined the Intentional Endowments Network. The University System of Maryland Foundation is a member of the Intentional Endowments Network. The Intentional Endowments Network is an organization that supports colleges, universities and other tax-exempt organizations in aligning their mission, values and sustainability goals without sacrificing financial returns. It provides opportunities for education and training, peer networking, convening, thought leadership and information exchange.Details on the IEN can be found at: http://www.intentionalendowments.org/
Optional Fields
Additional documentation to support the submission:
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Data source(s) and notes about the submission:
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