| Overall Rating | Gold |
|---|---|
| Overall Score | 75.14 |
| Liaison | Kylee Singh |
| Submission Date | July 10, 2023 |
California Polytechnic State University
PA-10: Sustainable Investment
| Status | Score | Responsible Party |
|---|---|---|
|
0.25 / 3.00 |
Ericka
Scott Foundation Foundation |
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) | 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) | 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:
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:
SOCIAL RESPONSIBILITY CONCERNING INVESTMENTS
I.BACKGROUND AND PURPOSE
A.The Board of Trustees of the California State University adopted a resolution urging its recognized CSU Auxiliary organizations to issue statements of social responsibility and to follow those precepts in examining past and considering future investment policies. In response to the Trustees’ resolution, the Cal Poly Foundation will endeavor to consider all relevant facts and circumstances in making investment decision, including the risks and opportunities of environmental, social and corporate governance features. The Cal Poly Foundation has a fiduciary responsibility to maximize investment returns on its endowment consistent with the level of risk while ensuring good stewardship of these assets that will enable continued financial support to further the educational mission of the University.
II.POLICY
A.The Foundation Board of Directors recognizes and accepts its social responsibility with respect to the investment of funds.
B.The investment policy and practices of the Foundation shall include Cal Poly Foundation
the evaluation of present and contemplated investments, not otherwise restricted in trust, in companies which do business abroad in the light of said responsibility.
C.Definitions. (1)“Socially Responsible Investing”, a term that is interchangeable with “Sustainable and Responsible Investing”, is an investment discipline that considers environmental, social, and corporate governance (ESG) criteria to generate long-term competitive financial returns and positive societal impact.
D.Reporting. (1)To ensure transparency, accountability and progress, the Investment manager will establish a reporting cycle with the Investment Committee.
III.REVIEW
A.The Investment Committee of the Foundation Board of Directors will review this policy five years from the most recent updated date to determine its effectiveness and appropriateness. The policy may be evaluated before that time as necessary to reflect substantial organizational, financial, or physical change(s) at the Foundation or any change required by law or by other governing 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:
Board approved Cal Poly Foundation Fund Manager Kapsick to offer an ESG fund option for new donors.
The California State University as a system became a signatory to the Global Investor Statement on Climate Change. Consistent with our fiduciary responsibilities, this statement includes a broad range of commitments to address climate risks and opportunities. The statement may be found here: https://www.iigcc.org/resource/2014-2015-global-investor-statement-on-climate-change/
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:
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:
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:
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 California State University System is made up of 23 campuses across the state of California. The CSU educates 474,000 students every year and has one of the most diverse student bodies in the United States. The California State University Foundation and Board of Trustees manages $25 million of the CSU System’s $1.4 billion endowment. Each campus may have its own separate endowment management entity and specific investment policies.
The Board acknowledges the importance of understanding the potential risks and value that environmental, social, and governance (“ESG”) factors may have on CSU investments. Therefore, the Board expects that the consideration of ESG factors shall be integrated into the investment decision processes of the CSU. Several of its campuses’ investment policies are modeled based on these guidelines. Furthermore, the CSU System is a signatory to the Global Investor Statement on Climate Change, a statement that includes a broad range of commitments to address climate risks and opportunities.
https://www.intentionalendowments.org/the_california_state_university_system
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:
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.