Overall Rating Silver - expired
Overall Score 62.54
Liaison Lisa Noriega
Submission Date Sept. 21, 2016
Executive Letter Download

STARS v2.1

Yale University
PA-9: Sustainable Investment

Status Score Responsible Party
Complete 1.00 / 4.00 Ginger Chapman
Director
Yale Office of Sustainability
"---" indicates that no data was submitted for this field

Option 1: Positive Sustainability Investment 

Does the institution wish to pursue Option 1 (positive sustainability investment)?:
No

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) ---
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 ---

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

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

Percentage of the institution's investment pool in positive sustainability investments:
0

Option 2: Investor Engagement 

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

Sustainable Investment Policy 

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

None
A copy of the sustainable investment policy:
Endowment+-+Climate+Change+Update+(Final).pdf

None
The sustainable investment policy:
---

None
Does the institution use its sustainable investment policy to select and guide investment managers?:
Yes

None
A brief description of how the policy is applied, including recent examples:
As noted in the sustainable investment letter attached above, "The Investments Office plans to continue its engagement with managers on the issue of climate change. Since the distribution of my letter in 2014, Yale initiated a number of new investment relationships with external partners and provided each of them a copy of the letter. The Investments Office engaged in conversations with each manager about the University’s objectives in considering climate change. A number of managers called attention to the alignment that exists between Yale’s policy and their current investment processes, highlighting specific actions their organizations had undertaken to address climate change. For example, Yale’s new real estate managers noted that reduced energy consumption benefits their bottom lines as well as the environment. In one instance, Yale had traveled very far down the path of hiring a new energy manager. Discussions with the manager about the contents of the letter revealed a divergence of views and attitude between Yale and that manager towards the risk of climate change, including whether and how to incorporate those risks in its investment process. In part as a result of those conversations, the Investments Office decided not to pursue that investment relationship."

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:
CCIR Climate Change Proxy Voting Guideline.pdf

None
A brief description of how managers are adhering to proxy voting guidelines:
---

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

None
Examples of how the institution has engaged with corporations in its portfolio about sustainability issues during the previous three years:
University policy does not allow us to share this information publicly.

Negative Screens / Divestment Efforts 

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

None
A brief description of the negative screens and how they have been implemented:
---

None
Approximate percentage of the endowment that the negative screens apply to:
---

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?:
No

None
A brief description of the investor networks and/or collaborations:
University policy does not allow us to share this information publicly.

Optional Fields 

The website URL where information about the programs or initiatives is available:
http://investments.yale.edu/social-responsibility

Additional documentation to support the submission:
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Data source(s) and notes about the submission:
Other informative links and resources include: http://www.nytimes.com/2014/09/08/business/yale-fund-takes-aim-at-climate-change.html?_r=0 http://www.nytimes.com/2016/04/13/business/energy-environment/yale-advances-in-shaping-portfolio-to-address-climate-change.html?_r=0 http://yaledailynews.com/blog/2016/04/13/yale-divests-10-million-from-fossil-fuels/

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.