Overall Rating Gold - expired
Overall Score 76.79
Liaison Mike Wilson
Submission Date Jan. 27, 2017
Executive Letter Download

STARS v2.1

University of Victoria
PA-9: Sustainable Investment

Status Score Responsible Party
Complete 1.00 / 4.00 Andrew Coward
Treasurer
Budget Office
"---" indicates that no data was submitted for this field

Does the institution wish to pursue Option 1 (positive sustainability investment)?:
Yes

Total value of the investment pool:
400,000,000 US/Canadian $

Value of holdings in each of the following categories:
Value of Holdings
Sustainable industries (e.g. renewable energy or sustainable forestry) ---
Businesses selected for exemplary sustainability performance (e.g. using criteria specified in a sustainable investment policy) ---
Sustainability investment funds (e.g. a renewable energy or impact investment fund) ---
Community development financial institutions (CDFIs) or the equivalent ---
Socially responsible mutual funds with positive screens (or the equivalent) ---
Green revolving loan funds that are funded from the endowment 25,000 US/Canadian $

A brief description of the companies, funds, and/or institutions referenced above:

UVic has seed funded $25,000 towards a fossil fuel-free fund endowment that supports the Revolving Sustainability Fund on an annual basis. This fund is available for other donors to contribute towards.

The Fossil Fuel Free Fund option for donors is an alternative investment from the Foundation’s Main Investment Fund that will not invest in investment instruments which are issued by companies that have proven and probable thermal coal, oil or natural gas reserves. Due to few investment options, the Fossil Fuel Free Fund is not a typical balanced (equity and fixed income) fund.

Contributions to endowment funds managed by the University of Victoria Foundation, the donor thereby is investing in the long term sustainability of the university. Donors who support this ensures that the fusion of dynamic learning, vital impact and extraordinary academic environment, will continue to benefit students and the pursuit of knowledge well into the future.

More info: https://www.uvic.ca/universitysecretary/otherbodies/foundations/new/index.php

Also, a $250,000 Revolving Sustainability Fund was initiated in 2011/12 from Operating Funds to finance projects that have a quantifiable monetary savings to increase the conservation and efficiency of UVic’s energy and water use.

More info: http://www.uvic.ca/sustainability/involved/sustainability-fund/revolving-loan/index.php

The Fossil Free Fund also supports the Campus Sustainability Fund which provides one-time allocations, that focus on energy or water saving, sustainability awareness or learning opportunity. The fund also provides seed money for projects relating to the Sustainability Action Plan where no financial paybacks are required.

More info: https://www.uvic.ca/sustainability/involved/sustainability-fund/index.php


Percentage of the institution's investment pool in positive sustainability investments:
0.01

Does the institution wish to pursue Option 2 (investor engagement)?:
Yes

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

A copy of the sustainable investment policy:
The sustainable investment policy:
Does the institution use its sustainable investment policy to select and guide investment managers?:
Yes

A brief description of how the policy is applied, including recent examples:

The endowment board adopted a Responsible Investing Brief in May of 2012 and managers are now reporting annually on ESG initiatives and how ESG issues are incorporated into the investment decision making process. Managers are also including how proxies are voted. No new investments managers have been hired since the policy was adopted.


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?:
No

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?:
No

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 have a publicly available investment policy with negative screens?:
No

A brief description of the negative screens and how they have been implemented:

N/A


Approximate percentage of the endowment that the 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?:
Yes

A brief description of the investor networks and/or collaborations:

Signatory to the United Nations Principles for Responsible Investing

Western North American Principles For Responsible Investment Network Event


The website URL where information about the programs or initiatives is available:
Additional documentation to support the submission:
---

The UVic endowment board adopted a Responsible Investing Brief in May of 2012 and managers are now reporting annually on ESG initiatives and how ESG issues are incorporated into the investment decision making process. Managers are also including how proxies are voted. No new investments managers have been hired since the policy was adopted. The following links provide more details on UVic's investment policies:

http://www.uvic.ca/universitysecretary/assets/docs/policies/FM5215_1790_.pdf

http://www.uvic.ca/universitysecretary/assets/docs/obfoundations/SummaryOfInvesmentBeliefsMay2013.pdf

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 and complete the Data Inquiry Form.