| Overall Rating | Gold - expired |
|---|---|
| Overall Score | 69.75 |
| Liaison | Josh Lasky |
| Submission Date | Feb. 23, 2018 |
| Executive Letter | Download |
George Washington University
PA-9: Sustainable Investment
| Status | Score | Responsible Party |
|---|---|---|
|
0.09 / 4.00 |
David
Green Associate V.P., Finance Operations Treasury Management |
Does the institution wish to pursue Option 1 (positive sustainability investment)?:
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) | 22,180,085.07 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 | 270,021.14 US/Canadian $ |
| Socially responsible mutual funds with positive screens (or the equivalent) | 0 US/Canadian $ |
| Green revolving loan funds that are funded from the endowment | 35,834.70 US/Canadian $ |
A brief description of the companies, funds, and/or institutions referenced above:
The endowment is invested in private equity funds that own companies engaged in sustainable farming; renewable energy engineering, construction, and generation; carbon offsets; energy efficiency and clean energy solutions; environmental remediation; battery recycling; and the reduction of mercury and NO2 emissions from coal-fired power generation facilities.
Additionally, the university has approximately $270K invested in local community development financial institutions (CDFIs). These amounts are not included in the University's official total endowment value but are considered investments in a long-term strategic partnership with local CDFIs.
In Feb 2018 GW announced the creation of a new Sustainable Investment Fund (SIF) that will allocate money from the university endowment toward investing in vehicles that promote and produce innovation in sustainable environmental practices. As approved by the George Washington University Board of Trustees, Subcommittee for Endowment and Investments, GW will establish the SIF with an initial $2 million from the university endowment. The SIF will be informed by an Committee for Sustainable Investment with significant student involvement, seeking to engage stakeholders on issues relevant to responsible investing.
An additional GW fund, known as the "Class of 2007 Campus Green Fund," is an endowment fund established in 2007 by members of that year's graduating class. While not a revolving loan fund, it is a sustainable investment fund, and its purpose is to fund initiatives designed to conserve energy and promote a more environmentally-friendly campus. GW's Facilities team uses this fund for projects such as installing rain barrels, soil moisture sensors, and compost bins, among others. While this fund does not fall into one of the above categories, the endowment fund is used to make GW more sustainable.
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?:
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 policy is applied, including recent examples:
SIG manages GW's assets in a comprehensive way that incorporations responsible investing perspective in their evaluation of opportunities for GW investment. For example, SIG selects the investment managers of GW's funds. In doing so, SIG conducts a rigorous selection process that incorporates responsible investing criteria. SIG's managers conduct the overwhelming majority of the security selection in GW's portfolio. SIG strongly prefers managers with processes that incorporate responsible investing. This is part of a holistic selection process.
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 have a publicly available investment policy with negative screens?:
A brief description of the negative screens and how they have been implemented:
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 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.