| Overall Rating | Gold |
|---|---|
| Overall Score | 74.85 |
| Liaison | Andrea Trimble |
| Submission Date | Feb. 8, 2024 |
University of Virginia
PA-10: Sustainable Investment
| Status | Score | Responsible Party |
|---|---|---|
|
5.00 / 5.00 |
Cornelia
Horner Director, Strategic Initiatives & Communications UVIMCO |
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) | 287,701,003 US/Canadian $ |
| Businesses selected for exemplary sustainability performance (e.g., using criteria specified in a sustainable investment policy) | 2,680,000,000 US/Canadian $ |
| Sustainability investment funds (e.g., a renewable energy or impact investment fund) | 2,903,041,263 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:
UVIMCO invests predominantly through external managers in pursuit of the organization's mission to generate exemplary investment returns to further the University of Virginia's mission. UVIMCO continuously evaluates the degree to which its managers incorporate ESG risks and opportunities in their investment process. UVIMCO also partners with managers who invest in a wide variety of sustainable industries including renewable energy, sustainable infrastructure, battery technology and electric vehicles, waste management, climate solutions technology, and other businesses with clear sustainability benefits. UVIMCO also partners with managers with impact investment funds with dedicated climate and social impact mandates.
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:
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 institution utilizes ESG Integration in its approach to reviewing prospective and active managers to better understand how these managers approach ESG risks and opportunities in their underlying investments.
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. Proxy voting is done mostly by UVIMCO’s external managers, some of whom proxy vote to promote sustainability issues.
Date Revised: April 25, 2024
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:
The institution utilizes Fossil Fuel Investment Principles (FFIP) to negatively screen for fossil fuel companies that don't meet sustainability criteria for its direct investments and shares the FFIP with its external investment managers for consideration regarding indirect investments. https://uvimco.org/wp-content/uploads/2022/03/Investor-Responsibility-Framework.pdf
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:
The institution is a member of the Intentional Endowments Network (IEN), CERES, and ILPA, as well as engages frequently with its peers.
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:
PRE-4 includes the long-term investment pool of 13.6 billion and the short-term pool of .266 billion. The short-term pool is not considered as part of the investment pool.
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.