| Overall Rating | Gold |
|---|---|
| Overall Score | 73.99 |
| Liaison | Mary-Lee Townsend |
| Submission Date | Oct. 20, 2021 |
Western University
PA-9: Committee on Investor Responsibility
| Status | Score | Responsible Party |
|---|---|---|
|
0.50 / 2.00 |
Heather
Hyde Director, Sustainability Sustainability Office |
"---"
indicates that no data was submitted for this field
Does the institution have a formally established and active committee on investor responsibility (CIR) or equivalent body?:
Yes
The charter or mission statement of the CIR or other body which reflects social and environmental concerns or a brief description of how the CIR is tasked to address social and environmental concerns:
The Investment Committee has taken responsibility for Sustainability at this time.
University Policy 2.26 - Statement of Investment
Objectives, Policies and Governance (https://www.uwo.ca/univsec/pdf/policies_procedures/section2/mapp226.pdf) outlines the purpose, beliefs and objectives of the Investment Committee, including:
"The Committee recognizes that environmental, social and governance factors may have an impact on corporate performance over the long-term, although the impact can vary by industry. Western’s Responsible Investing Policy is covered in Section 7."
Section 7.1 - The Committee recognizes that Responsible Investing (“RI”) is a rapidly evolving approach to investing that understands sustainability as a fundamental concept in wisely allocating financial capital for the benefit of today and future generations. The Committee has a fiduciary obligation to invest funds for the benefit of the University in the interest of endowment funds/donors and RI is in keeping with that obligation.
The Committee has formed a Working Group on Responsible Investing (“WGRI”) to bring knowledge and expertise as needed to bear on the effective management of the Portfolios in its RI strategy.
Section 7.8 of this policy outlines the following Sustainable Investment Strategy:
Western recognizes the role of Responsible Investing in achieving a forward-looking Operating & Endowment Fund for the benefit of future generations.
To help steer its responsible investing strategy, Western is guided by the United Nations Sustainable Development Goals (“SDGs”). These 17 goals have been developed to confront major issues.
Western takes a broad and dynamic approach to sustainable investing, however a few issues have surfaced as being critical to its stakeholders. These include:
• Access to clean water
• Carbon footprint reduction
• Pollution abatement
Solving those issues presents new opportunities for investors and there is a growing number of businesses providing solutions to these problems and add to the University’s long-term investment returns.
Western is committing to invest a portion of its Operating & Endowment Fund (5% to 10% over the next five years) in companies providing solutions along the following themes:
• Clean and renewable energy
• Water treatment solutions
• Waste management solutions
These investments will be funded from the Operating & Endowment Fund public equity investments.
By focusing on those investment themes, Western would ensure that its investments will contribute to the following SDGs:
6) Clean water and sanitation
7) Affordable and clean energy
13) Climate action
The University reserves the right to select the appropriate investment vehicle to implement its strategy, in order to take advantage of all the opportunities available. These may include, in addition to publicly traded equities:
• Fixed income (such as green bonds)
• Natural resources (such as farmland and timber)
• Infrastructure assets
• Private equity
The selected investment strategies must demonstrate the pursuit of a lower carbon
footprint, than is represented in global investment markets.
University Policy 2.26 - Statement of Investment
Objectives, Policies and Governance (https://www.uwo.ca/univsec/pdf/policies_procedures/section2/mapp226.pdf) outlines the purpose, beliefs and objectives of the Investment Committee, including:
"The Committee recognizes that environmental, social and governance factors may have an impact on corporate performance over the long-term, although the impact can vary by industry. Western’s Responsible Investing Policy is covered in Section 7."
Section 7.1 - The Committee recognizes that Responsible Investing (“RI”) is a rapidly evolving approach to investing that understands sustainability as a fundamental concept in wisely allocating financial capital for the benefit of today and future generations. The Committee has a fiduciary obligation to invest funds for the benefit of the University in the interest of endowment funds/donors and RI is in keeping with that obligation.
The Committee has formed a Working Group on Responsible Investing (“WGRI”) to bring knowledge and expertise as needed to bear on the effective management of the Portfolios in its RI strategy.
Section 7.8 of this policy outlines the following Sustainable Investment Strategy:
Western recognizes the role of Responsible Investing in achieving a forward-looking Operating & Endowment Fund for the benefit of future generations.
To help steer its responsible investing strategy, Western is guided by the United Nations Sustainable Development Goals (“SDGs”). These 17 goals have been developed to confront major issues.
Western takes a broad and dynamic approach to sustainable investing, however a few issues have surfaced as being critical to its stakeholders. These include:
• Access to clean water
• Carbon footprint reduction
• Pollution abatement
Solving those issues presents new opportunities for investors and there is a growing number of businesses providing solutions to these problems and add to the University’s long-term investment returns.
Western is committing to invest a portion of its Operating & Endowment Fund (5% to 10% over the next five years) in companies providing solutions along the following themes:
• Clean and renewable energy
• Water treatment solutions
• Waste management solutions
These investments will be funded from the Operating & Endowment Fund public equity investments.
By focusing on those investment themes, Western would ensure that its investments will contribute to the following SDGs:
6) Clean water and sanitation
7) Affordable and clean energy
13) Climate action
The University reserves the right to select the appropriate investment vehicle to implement its strategy, in order to take advantage of all the opportunities available. These may include, in addition to publicly traded equities:
• Fixed income (such as green bonds)
• Natural resources (such as farmland and timber)
• Infrastructure assets
• Private equity
The selected investment strategies must demonstrate the pursuit of a lower carbon
footprint, than is represented in global investment markets.
Does the CIR include academic staff representation?:
No
Does the CIR include non-academic staff representation?:
Yes
Does the CIR include student representation?:
No
Members of the CIR, including affiliations and role:
From the Terms of Reference of the Investment Committee (https://www.uwo.ca/univsec/pdf/board/committees/investment.pdf)
The Committee shall consist of ten members as follows:
- Vice-President (Operations & Finance)
- Associate Vice-President (Financial Services)
- Director, Investments
- At least one, and up to two, current or former members of the Board, appointed
by the Property & Finance Committee
- At least five, and up to six members, appointed by the Property & Finance
Committee on the recommendation of the Investment Committee
The Committee may add other members, with the approval of the Property & Finance
Committee, when particular expertise or background is needed.
The Vice-President (University Advancement) may appoint one member of his/her Portfolio to the Committee as a non-voting Resource Person.
The Vice-President (Operations & Finance) or designate shall be Chair. The Secretary of the Board, or designate, shall be Secretary of the Committee.
The Committee shall consist of ten members as follows:
- Vice-President (Operations & Finance)
- Associate Vice-President (Financial Services)
- Director, Investments
- At least one, and up to two, current or former members of the Board, appointed
by the Property & Finance Committee
- At least five, and up to six members, appointed by the Property & Finance
Committee on the recommendation of the Investment Committee
The Committee may add other members, with the approval of the Property & Finance
Committee, when particular expertise or background is needed.
The Vice-President (University Advancement) may appoint one member of his/her Portfolio to the Committee as a non-voting Resource Person.
The Vice-President (Operations & Finance) or designate shall be Chair. The Secretary of the Board, or designate, shall be Secretary of the Committee.
None
Examples of CIR actions during the previous three years:
Development of the responsible investing policy included in section 7 of the SIOPG. https://www.uwo.ca/univsec/pdf/policies_procedures/section2/mapp226.pdf.
Optional Fields
Additional documentation to support the submission:
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Data source(s) and notes about the submission:
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