Overall Rating Silver
Overall Score 59.67
Liaison Luc Surprenant
Submission Date Dec. 23, 2022

STARS v2.2

Université de Montréal
PA-10: Sustainable Investment

Status Score Responsible Party
Complete 1.70 / 3.00 Andrée Mayrand
Director
Investment Management Direction
"---" indicates that no data was submitted for this field

Part 1. Positive sustainability investment

Total value of the investment pool:
401,753,198 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) 32,121,333 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 3,742,552 US/Canadian $

If any of the above is greater than zero, provide:

A brief description of the companies, funds, and/or institutions referenced above:
Includes investments in a renewable infrastructure fund and investments in green bonds and sustainability bonds via a fixed income fund.

Percentage of the institution's investment pool in positive sustainability investments:
8.93

Part 2. Investor engagement

Sustainable investment policy 

Does the institution have a publicly available sustainable investment policy?:
Yes

None
A copy of the sustainable investment policy:
adm10_53-Politique_matiere_investissement_responsable_fonds_dotation.pdf

None
The sustainable investment policy:
---

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:
The RI Policy specifies that ESG issues should be incorporated into managers' selection and appointment and lists the main elements that are to be examined. During the selection, the potential managers are evaluated based on two main criteria: if they are PRI signatory and their ESG incorporation into the investment process. Generally, ESG-related questions are incorporated into the RFP or similar documents, and during the meetings with potential candidates. To determine the level of ESG incorporation into the investment process we evaluate:
• the RI policy and related policies
• if not PRI signatory, adherence to similar guidelines, codes etc.
• if available, their PRI public transparency report and assessment report
• method of ESG incorporation into investment and decision-making process
• proxy voting policy and disclosed proxy voting results
• internal ESG research
• ESG databases used (internal and external)
• dedicated ESG team/personnel and their role/interaction with the investment teams
• collaborative engagements
• standard ESG reporting practices.
During the selection, ESG considerations are assigned a specific weighting in the investment manager evaluation. The ESG-related questions may vary across asset classes and investment style/strategies.

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?:
Yes

None
A copy of the proxy voting guidelines or proxy record:
---

None
A brief description of how managers are adhering to proxy voting guidelines:
The endowment has its own proxy voting guidelines and exercises its voting rights via an external service provider.

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:
---

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?:
Yes

A brief description of the divestment effort or negative screens and how they have been implemented:
The endowment will divest its equity portfolio from the Oil, Gas & Consumable Fuels sector (as defined by GICS) by 2025.

Approximate percentage of endowment that the divestment effort and/or negative screens apply to:
4.12

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?:
Yes

None
A brief description of the investor networks and/or collaborations:
UdeM is a PRI signatory and takes part in the Quebec Network workshops. Also, UdeM is a signatory to the Investing to Address Climate Change: A Charter for Canadian Universities, and takes part in its working committee whose objective is to share and advance climate-related practices.

Optional Fields 

Website URL where information about the institution’s sustainable investment efforts is available:
https://reseau.umontreal.ca/s/1857/images/gid2/editor_documents/donateurs/rapport_annuel_20-21.pdf?gid=2&pgid=61&sessionid=e29b83b0-85d1-4951-80b0-fa80fe1a75fa&cc=1

Additional documentation to support the submission:
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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.