|Submission Date||Sept. 14, 2017|
|0.84 / 4.00||
Assoc Director, Analysis & Assessment
|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)||85,000,000 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 loan funds that are funded from the endowment||---|
Partly in response to student advocacy, Penn State conducted a study to evaluate investment managers who are "environmental, social and governance" (ESG) focused as compared to non-ESG peers. This study led Penn State to hire a management firm which invests in companies that possess, among other attributes, positive environmental attributes with the potential to drive financial performance and stock valuation. About $85M of the investment pool is subject to this investment strategy.
Penn State authorizes its investment managers to vote on its behalf. Therefore the managers who are focused on ESG investments (described above) are engaged in proxy voting on behalf of Penn State in a way that supports their environmental, social and governance goals.
In December 2015 the Office of Investment Management at Penn State conducted a survey of the Big Ten & Peer Group institutions, which looked at student involvement and social investing. The survey was an attempt to gauge the impact of social investing pressures, and to outline the collective challenges and successes in the endowment management environment.
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 and complete the Data Inquiry Form.