| Overall Rating | Silver - expired |
|---|---|
| Overall Score | 51.10 |
| Liaison | Barbara Queen |
| Submission Date | July 17, 2019 |
| Executive Letter | Download |
California State University, Los Angeles
PA-9: Sustainable Investment
| Status | Score | Responsible Party |
|---|---|---|
|
1.16 / 4.00 |
Does the institution wish to pursue Option 1 (positive sustainability investment)?:
Total value of the investment pool:
Date Revised: Aug. 21, 2020
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) | 962,000 US/Canadian $ |
| Green revolving loan funds that are funded from the endowment | 0 US/Canadian $ |
A brief description of the companies, funds, and/or institutions referenced above:
Clearbridge Large Cap Growth ESG Manager. Positive ESG screening manager.
Percentage of the institution's investment pool in positive sustainability investments:
Does the institution wish to pursue Option 2 (investor engagement)?:
Does the institution have a publicly available sustainable investment policy?:
Date Revised: Aug. 21, 2020
A copy of the sustainable investment policy:
The sustainable investment policy:
SUSTAINABLE AND RESPONSIBLE INVESTING
The Investment and Finance Committee may consider investment managers who focus on ESG (Environmental, Social and Corporate Governance) during the investment process.
Does the institution use its sustainable investment policy to select and guide investment managers?:
A brief description of how the policy is applied, including recent examples:
Reviewing entire portfolio to strategically include ESG, as appropriate with the Investment Policy Statement.
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:
Only two of the investment managers for the California State University of Los Angeles, Alliance Bernstein and Clearbridge, participate specifically in sustainable proxy voting practices on behalf of the University. Below is the Proxy Voting Policy for Alliance Bernstein:
AB has a well-developed global in-house Proxy Policy and Process. As an investment adviser, we are shareholder advocates and have a fiduciary duty to make investment decisions that are in our clients' best interests by maximizing the value of their shares. Proxy voting is an integral part of this process, through which we support strong corporate governance structures, shareholder rights, and transparency.
We believe a company's environmental, social and governance ("ESG") practices may have a significant effect on the value of the company, and we take these factors into consideration when voting.Our proxy voting guidelines are both principles-based and rules-based. Our approach relies on a set of core beliefs and principles which is reflected throughout our policy, and, in some cases, is adapted to local market practices.
We approach our proxy voting responsibilities with the same commitment to rigorous research and engagement that we apply to all of our investment activities. Our policy is to vote all proxies in a timely manner, for the full number of shares, for all securities held in client accounts for which we have proxy voting authority, whenever it is administratively and logistically possible to do so.
Our Proxy Voting Policy is reviewed annually, and updated as necessary, by the Proxy Committee (which includes senior members from Investments, Legal & Compliance, and Operations) to ensure it captures our latest thinking and reflects new governance issues. The Committee generally meets three times per year and as necessary to address special situations. In 2014, we made a number of changes to our Proxy Voting Policy to bring it more in line with our beliefs as a signatory of the PRI. For example, generally we now vote in favour of proposals requesting increased disclosure of political contributions and lobbying expenses. In 2015 we continued this trend by adding some items relating to Environmental and Social proposals to reflect more current issues, such as proxy access proposals, proposals regarding human rights policies and reports, and climate change items.
Proxy Voting Records found at: https://www.alliancebernstein.com/abcom/Our_Firm/About_Us/Responsible-Investing.htm
https://www.clearbridge.com/content/dam/clearbridge/esg-education/pdf/esg-proxy-guidelines-2016.pdf
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 have a publicly available investment policy with negative screens?:
A brief description of the negative screens and how they have been implemented:
Board voted to eliminate and bar Foundation investments in private prison corporations
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?:
A brief description of the investor networks and/or collaborations:
The Investment Advisor for California State University of Los Angeles, Morgan Stanley, is actively involved in investor networks for responsible and sustainable investing. Morgan Stanley is an active member of the Global Impact Investing Network, CERES, BSR (Business for Social Responsibility) and the US SIF (The Forum for Sustainable & Responsible Investment). Morgan Stanley Investment Management is a signatory of the UN PRI (United Nations Principles of Responsible Investment).
The website URL where information about the programs or initiatives 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.