| Overall Rating | Silver |
|---|---|
| Overall Score | 58.33 |
| Liaison | Jessica Bilecki |
| Submission Date | March 14, 2024 |
University of the Pacific
PA-10: Sustainable Investment
| Status | Score | Responsible Party |
|---|---|---|
|
0.66 / 3.00 |
James
Walsh Chief Financial Officer Business and Finance |
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) | 15,100,000 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 $ |
A brief description of the companies, funds, and/or institutions referenced above:
The value of holdings in sustainable industries is estimated based on an MSCI analysis of the underlying holdings of public equity and equity-oriented real assets external investment managers (representing 50.4% of Total Assets). One broadly diversified active U.S. equity manager that does not disclose specific holdings was approximated by its benchmark holdings. The reported value is based on company revenue exposure to Sustainable Impact Solutions as defined by MSCI. The exposure figures represent the extent to which company revenue is exposed to products and services that help solve the world’s major social and environmental challenges (e.g., themes such as climate change, natural capital, basic needs, and empowerment).
Percentage of the institution's investment pool in positive sustainability investments:
Does the institution have a publicly available sustainable investment policy?:
A copy of the sustainable investment policy:
The sustainable investment policy:
To support Pacific's values as it relates to sustainability, direct investment in thermal coal and tar sands (also referred to as oil sands) via separately managed accounts will be avoided and divested from in a prudent manner. Though the specific policy is only available internally, the university’s direction was articulated in this article - Pacific to include environmental considerations in investment strategy (https://admissions.pacific.edu/pacific-newsroom/pacific-include-environmental-considerations-investment-strategy).
Does the institution use its sustainable investment policy to select and guide investment managers?:
A brief description of how the sustainable investment policy is applied:
The policy guides investment manager evaluation, with one evaluation criterion focusing on the extent to which investment managers understand and consider sustainability and diversity factors in their investment process. Sustainability and diversity are factors, but not the sole factors in investment manager evaluation. Additionally, managers are responsible for the avoidance and prudent divestment in thermal coal and tar sands (also referred to as oil sands) via separately-managed accounts.
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:
N.A.
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:
N.A.
Does the institution participate in a public divestment effort and/or have a publicly available investment policy with negative screens?:
A brief description of the divestment effort or negative screens and how they have been implemented:
Pacific provided guidelines to separately managed accounts regarding the implementation of negative screens for companies with exposure to thermal coal and tar sands (commonly known as oil sands). Companies meeting these criteria have been divested from the portfolio.
Approximate percentage of endowment that the divestment effort and/or negative screens apply to:
Does the institution engage in policy advocacy by participating in investor networks and/or engage in inter-organizational collaborations to share best practices?:
A brief description of the investor networks and/or collaborations:
N.A.
Website URL where information about the institution’s sustainable investment efforts is available:
Additional documentation to support the submission:
Data source(s) and notes about the submission:
Endowment total was taken from the period ending June 30, 2023.
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.