Intentional Endowments Network: Promoting Sustainable Investing in Higher Education
The Intentional Endowments Network (IEN) provides direct support and facilitates cross-sector collaboration for higher education institutions, non-profits, advocacy groups, investment firms, and more. Their initiatives focus on thought leadership, peer networking, and forums for presidents, CFOs, trustees, students, alumni, donors, and other stakeholders. The IEN's Steering Committee and Executive Committee include prominent individuals from various sectors dedicated to promoting sustainable investing in higher education.
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IEN & this Forum Tony Cortese Principal, Intentional Endowments Network Georges Dyer Principal, Intentional Endowments Network Barbara Simonetti Conversation Architect and Facilitator
Intentional Endowments Network Direct Support for Higher Education and Facilitated Cross-Sector Collaboration Resource Exchange Non-Profit & Advocacy Groups Investment Firms Higher Education Endowments Thought Leadership Peer Networking Presidents CFOs Trustees Students Alumni Donors Faculty Staff Managers Consultants Other Associations & Networks Institutional Investors Education & Training Forums & Meetings
IEN Steering Committee Geeta Aiyer, CFA, President and Founder, Boston Common Asset Management; Board of Directors, Sierra Club Foundation Robert Litterman, Chair of Risk Committee, Kepos Capital, LP; and Board Chair, Commonfund Garrett P. Ashley, Vice Chancellor, University Relations and Advancement, The California State University Ken Locklin, Managing Director, Impax Asset Management Maria Lettini, Director, FAIRR Initiative, Jeremy Coller Foundation Joseph Biernat, Trustee, Gettysburg College Tom Mitchell, Managing Director, Cambridge Associates Richard Bookbinder, Investment Committee Member, Washington College; and Managing Member, Terra Verde Capital Management Robert Nava, President, San Francisco State University Foundation Patrick Norton, CFO, Middlebury College Chris Davis, Director and Chief of Staff of INCR, Ceres Morgan Olsen, CFO, Arizona State University Felicia Davis, Managing Director, Building Green Campuses, Clark Atlanta University Mark Orlowski, Executive Director, Sustainable Endowments Institute Erica Lasdon, Vice President, Research and Advocacy, Calvert Investments Erika Pagel, Portfolio Manager, Brown Advisory Jameela Pedicini, Director, Asset Management, Perella Weinberg Partners Alice DonnaSelva, Investment Consultant, Prime Buchholz David Dinerman, Trustee, Hampshire College Leslie Samuelrich, President, Green Century Capital Management Chris Fowle, Associate Director, Principles for Responsible Investment (PRI) Steve Schueth, President and Chief Marketing Officer, First Affirmative Financial Network Bennett Freeman, Independent Sustainable Investment Expert Cheryl Smith, Managing Partner, Trillium Assets Management Susan Gary, Professor, University of Oregon School of Law Marcie Smith, Executive Director, Responsible Endowments Coalition Julie Gorte, VP, Pax World Investments Don Gould, Trustee, Pitzer College Tim Smith, Senior Vice President, Director of ESG Shareowner Engagement, Walden Asset Management, Boston Trust Keith Johnson, Chair, Institutional Investor Services Group, Reinhart Boarner Van Deuren Carl Vance, Chief Investment Officer, Lewis & Clark College Sonia Kowal, President, Zevin Asset Management Stephen Viederman, Chair, Finance Committee, Christopher Reynolds Foundation Thomas Kuh, Executive Director, MSCI Alex Lamb, Managing Director, Commonwealth Impact Partners; and Trustee, Montserrat College of Art Heidi Welsh, Executive Director, Sustainable Investments Institute Elizabeth Lewis, Sustainable Investment Lead, WRI www.intentionalendowments.org/steering_comm
IEN Executive Committee Garrett P. Ashley (Co-Chair), Vice Chancellor, University Relations and Advancement, The California State University Joseph Biernat, Trustee, Gettysburg College David Dinerman (Co-Chair), Trustee, Hampshire College Alice DonnaSelva, Investment Consultant, Prime Buchholz Lisa Hayles, Institutional Investment Services, Boston Common Asset Management Keith Johnson, Chair, Institutional Investor Services Group, Reinhart Boerner Van Deuren Tom Mitchell, Managing Director, Cambridge Associates Carl Vance, Chief Investment Officer, Lewis & Clark College www.intentionalendowments.org/executive_committee
Shareholder Engagement Clean Energy IEN Funding Strategy IEN Working Groups Sign-On Initiatives Fiduciary Duty Business Case for ESG
IEN Working Groups Business Case for ESG Develop resources to evaluate the business case for ESG integration, designed for audiences of trustees, presidents, CIO's, and CFO's. Clean Energy Identify and share strategies for colleges and universities to invest in energy efficiency and renewable energy through campus operations and their endowments. Fiduciary Duty Develop and identify resources to clarify for higher education trustees how sustainable investing strategies relate to their fiduciary duties. Shareholder Engagement Develop a strategy to share information with endowments on how to effectively use their rights as corporate share owners to engage portfolio companies on governance and sustainability concerns about accountability, transparency, the environment and social justice. Sign-on Initiatives Work to engage more endowments in signing on to public investor statements related to sustainability and ESG issues. Student-Managed Funds Provide students opportunities to mission-aligned endowment investing learn first-hand. Educational Programming / Academic Build bridges between academic work and endowment investing related to ESG to create new learning opportunities. www.intentionalendowments.org/working_groups
IEN Publications & Webinars www.intentionalendowments.org/intentionally_designed_endowments www.intentionalendowments.org/webinars
Online Resource Center www.intentionalendowments.org/r esources Weekly News Round- Up for the IEN www.intentionalendowments.org/sta y_connected
IEN Forums and Events Hampshire College, Apr. 2014 Arizona State University, Jan. 2015 Mount Holyoke College, Feb. 2015 Alliance for a Sustainable Colorado, May 2015 Portland State University, Nov. 2015 Harvard Management Company and PRI, Apr. 2016 Bloomberg LP & University of Reading, Jun. 2016 San Francisco State University, Aug. 2016 Loyola University Chicago, Nov. 2016 http://www.intentionalendowments.org/past_events
June 2015: Webinar with CDP May 2015: 4th Forum with Alliance for Sustainable Colorado Nov. 2015: 5th Forum with Portland State Feb. 2015: 3rd Forum with Mt. Holyoke (student focus) June 2016: ESG Innovation event with Bloomberg & University of Reading Jan. 2015: 2nd Forum with Arizona State Growth in IEN Participation Aug. 2016: 6th Forum with SF State 1600 Sept. 2014: Session with college presidents at ACUPCC Summit 1400 Sept. 2016: Webinar with Commonfund 1200 1000 Sept. 2014: Webinar with the PRI 800 Oct. 2016: Webinar with Heron Foundation & Hampshire College 1365 600 976 10251165 886 April 2014: 1st Forum with Hampshire College 400 658 619 516 200 346 221 162 0 July '14 Oct '14 Jan '15 Apr July '15 Oct '15 Nov '15 Jan '16 Apr Jul '16 Oct '15 '16 '16 The number of individuals in the Intentional Endowments Network (IEN) database as a result of attending an IEN event, through conversation with the IEN team, or by opting-in on the IEN website.
Burning Questions 1. Performance: What is the impact on financial performance? How do we measure social impact? 2. Stakeholder Buy-In: How might we make the case for aligning our values and investments especially within boards? 3. Strategy: What are effective implementation and investment strategies within values aligned portfolios? 4. Trends and Best practices: What are other institutions doing? 5. Shareholder Activism: How might the academic community collaborate on shareholder engagement? 6. Fiduciary Duty: How might we address the fiduciary question particularly with board members?
Successful if I 1. A well-rounded understanding of the risks and challenges of sustainable investing and the range of options available that have both financial performance and impact. Established channels and connections for continued dialogue about leveraging financial resources to advance values. A framework for actionable plans and strategies for moving forward 2. 3. 4. Learned what other institutions have done; policies and processes that have been successfully implemented.
Overview Agenda Tuesday, November 1st Wednesday, November 2nd ? ? Networking? Breakfast? ? ? 7:30? AM? ? ? 8:00? AM? ? 8:05? AM? Welcome? Remarks? and? Introduction? 1:00? PM? ? 1:30? PM? ? Review? &? Preview? ? ? Breakfast? Keynote? ? David? Blood? ? Panel:? Stories? from? Advisors? ? Constructing? Mission-Aligned? Portfolios? ? ? ? Dialogue:? How? do? we? work? with? advisors? on? a? sustainable? investment? strategy?? ? Break? ? Panel:? Investing? for? Maximum? Impact:? Clean? Energy? ? Short? Talk:? ? Tim? Carter,? Second? Nature? ? Open? Space:? Working? the? Network? Dialogue? Session:? Why? Are? You? Here?? ? ? Panel:? Stories? from? the? Boardroom? ? Dialogue? Session:? Where? is? the? conversation? at? your? institution?? What? is? needed? to? move? forward?? ? ? 2:00? PM? 8:45? AM? 2:50? PM? 9:30? ? AM? ? ? 10:00? AM? ? ? ? ? ? ? ? 10:15? AM? 11:00? AM? ? 11:05? AM? ? 12:00? PM? Break? ? Panel:? ? ESG? Investing? and? Performance? ? Dialogue:? What? are? your? questions? on? financial? performance?? How? important? is? measuring? positive? societal? impact?? ? How? do? your? expectations? on? fiancial? performace? and? society? impact? vary? for? different? asset? classes?? ? Stories? from? Across? the? Spectrum? ? Popcorn? Session:? Strategies? and? Products? for? Sustainable? Investing? ? ? 3:10? PM? ? 3:20? PM? 4:15? PM? ? Lunch? and? Continued? Dialogue? ? ? ? ? ? ? Keynote? Conversation? ? Hank? Paulson? &? Curtis? Ravenel? ? ? 4:35? PM? ? 4:45? PM? ? 1:00? PM? ? 1:45? PM? ? 2:30? PM? ? 2:45? PM? ? 3:40? PM? Reflection? &? Discussion? ? Break? ? Action? Planning? &? Working? the? Network? Schreiber? Center? Sustainability? Tour? &? Break? ? Networking? Reception? ? Dinner? &? Keynote? ? Jeremy? Coller? ? 5:20? PM? ? 5:45? PM? ? 7:00? PM? ? ? ? ? Closing? and? Adjourn? ? Invitation? to? Continue? the? Network? ? ?
Ground Rules Engage and Share What You Know Ask Questions Conversation Catalysts Chatham House Rule Capture Insights in your Personal Journal Plan to Continue the Conversation
Dialogue Session: Why are you here? Where are you in the process? Start building relationships and networks Provide a sense of the spectrum of experience in the room Highlight issues and themes that can be revisited throughout the day. Journal Page 7
Conversation on the Wall Where is your institution?
Spectrum of Progress Cumulative data from Intentionally Designed Endowment events in April 14, September 14, and January 15. Number of institutions 22 19 12 9 9 8 7 6 Barely on the radar Just getting started Conflict, more heat than light ESG policy recently enacted ESG policy with track record Constructive deliberation Agreement to take action Developing ESG policy
