| Overall Rating | Gold - expired |
|---|---|
| Overall Score | 66.70 |
| Liaison | David Gibson |
| Submission Date | March 30, 2018 |
| Executive Letter | Download |
Hampshire College
PA-9: Sustainable Investment
| Status | Score | Responsible Party |
|---|---|---|
|
3.71 / 4.00 |
Steven
Roof Dean of the School of Natural Science Natural Science |
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) | 7,500,000 US/Canadian $ |
| Businesses selected for exemplary sustainability performance (e.g. using criteria specified in a sustainable investment policy) | 2,300,000 US/Canadian $ |
| Sustainability investment funds (e.g. a renewable energy or impact investment fund) | 8,200,000 US/Canadian $ |
| Community development financial institutions (CDFIs) or the equivalent | 0 US/Canadian $ |
| Socially responsible mutual funds with positive screens (or the equivalent) | 3,900,000 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:
• Global all cap equity fund that focuses on sustainability and climate related themes
• Global all cap equity fund that invests in environmental products and services
• International large cap fund that focuses on companies exhibiting strong ESG traits
• Domestic large cap fund that incorporates ESG factoring scoring into its investment process
• Domestic small cap fund that employs a best in class approach and actively engages in shareholder advocacy
• Small/mid cap emerging market equity strategy that incorporates its ESG policy into its investment framework
• Equity long/short fund focused on sustainable related companies
• Hedge fund of funds that invests with managers focused on environmental factors
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:
The college picks fund managers based on their alignment with the screens set out in the college investment policy. In Q3, 2012, the college moved all of its money out of a fund manager with holdings in so-called fossil fuel stocks to one that does not. The shift represented over 10% of the total endowment. The college also periodically evaluates the holdings of its fund managers to assess their compliance with the college’s policies.
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:
We are beginning to reassess this position, and have been invited by several fund managers to engage with them in this area.
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:
PLEASE NOTE: it was not really a "negative" screen but a screen for "affirmative investing," which is our approach and we have found far more progressive.
The adoption in December 2011 of our new ESG Investing Policy has resulted in our moving out of funds that were not transparent.
Additionally, through our affirmative investment approach, our funds have been shifted away from holdings that may (again, not all were transparent) have included fossil fuels.
A good description of the Hampshire approach to investing is in this article by our president: http://www.huffingtonpost.com/jonathan-lash/college-investment-endowment-_b_2006569.html
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:
The college’s policy is based on positive screens. We favor investments that align with our ESG goals.
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 college recently co-sponsored a conference aimed at foundations and endowments to encourage them to invest in a manner consistent with their principles. While it is still early, a likely outcome of this conference will be continued work with other institutions to assist them to work to move how they invest their endowments to more positive objectives, and to align their investments with their views on critical social and economic issues.
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.