Overall Rating Gold
Overall Score 68.91
Liaison Susan Powers
Submission Date April 10, 2024

STARS v2.2

Clarkson University
PA-10: Sustainable Investment

Status Score Responsible Party
Complete 0.50 / 3.00 Susan Powers
Director of the Institute for a Sustainable Environment
ISE
"---" indicates that no data was submitted for this field

Part 1. Positive sustainability investment

Total value of the investment pool:
249,790,411 US/Canadian $

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 $

If any of the above is greater than zero, provide:

A brief description of the companies, funds, and/or institutions referenced above:

 


 


Percentage of the institution's investment pool in positive sustainability investments:
0

Part 2. Investor engagement

Sustainable investment policy 

Does the institution have a publicly available sustainable investment policy?:
No

None
A copy of the sustainable investment policy:
---

None
The sustainable investment policy:
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None
Does the institution use its sustainable investment policy to select and guide investment managers?:
Yes

A brief description of how the sustainable investment policy is applied:

The Investment Subcommittee does not directly manage the Endowment instead relying on our outside investment advisor to oversee the day-to-day management of the Endowment. The University’s Investment and Spend Policy contains specific language about the selection of fund managers and the importance of environmental, social, and corporate governance (ESG) tenets. The Investment and Spend Policy is shared with all of our fund managers.


Proxy voting 

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?:
No

None
A copy of the proxy voting guidelines or proxy record:
---

None
A brief description of how managers are adhering to proxy voting guidelines:

From Investment and Spend Policy: In furtherance of its values, the University will also utilize proxy voting to the extent possible.


Shareholder resolutions 

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?:
No

Examples of how the institution has engaged with corporations in its portfolio about sustainability issues during the previous three years:

none


Divestment efforts and negative screens

Does the institution participate in a public divestment effort and/or have a publicly available investment policy with negative screens?:
No

A brief description of the divestment effort or negative screens and how they have been implemented:

The Sub-committee monitors on a quarterly basis the performance and holding to ensure the day-to-day management of the Endowment is consistent with the University’s values. As an example of this process, in early 2022, the Committee reviewed the Endowment’s exposure to Russia as the Russian-Ukrainian conflict seemed likely to escalate and working with our investment advisor took actions to divest Russian assets from our portfolio. The sub-committee also monitors the endowment using negative screens. These negative screens are used for information but we do not have a documented divestment commitment. The screens are conducted at the firm level using the percentage of revenue derived by each screen. As of December 31, 2021, the exposure to select negative MSCI screens is: Negative MSCI Screen Weight ADULT ENTERTAINMENT 0.02% ALCOHOL 1.14% CONTRACEPTIVES 0.01% GAMBLING 1.23% NUCLEAR POWER 0.03% OIL & GAS 1.46% TOBACCO 0.65% WEAPONS 0.17%


Approximate percentage of endowment that the divestment effort and/or negative screens apply to:
0

Investor networks 

Does the institution engage in policy advocacy by participating in investor networks and/or engage in inter-organizational collaborations to share best practices?:
Yes

None
A brief description of the investor networks and/or collaborations:

Clarkson University is a PRI signatory as is Brown Brothers Harriman, our outside investment advisor. As of 4/14 market values, PRI signatories manage approximately 72% of the Endowment.


Optional Fields 

Website URL where information about the institution’s sustainable investment efforts is available:
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Additional documentation to support the submission:
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Data source(s) and notes about the submission:
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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.