Weekly News Round-Up: November 16th,2018

 
Weekly News Round-Up: November 16th, 2018

Please find this week's news round-up below. 

We're excited to announce US SIF has invited IEN members to a special webinar on their 2018 Trends Report, taking place on November 27th, 2018 at 1:00 p.m. ET. Register for the webinar here.

Lastly, IEN is currently hiring a Program Administrator and   Membership Manager. Please help us find exceptional candidates by sharing these descriptions with your networks!

Have a great weekend,
Nicole

 

Nicole Torrico (formerly Harman)
Program Manager, The Intentional Endowments Network
www.intentionalendowments.org

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Sign-On Opportunities

Statement of Investor Commitment to Support a Just Transition on Climate Change

Investor Statement on Corporate Accountability for Digital Rights

  • Deadline: November 21, 2018

Global Investor Engagement on Meat Sourcing

  • If you would like to join the collaborative investor engagement, please complete the online form here before December 14, 2018

More information on these opportunities is available on our Sign-On Opportunities page.

 
Sustainable Investing by Institutional Asset Owners

Board of Trustees Vote to Fully Divest Whitman College from the Fossil Fuel Industry l Whitman Wire

  • On Friday, November 9, the Board of Trustees at Whitman College unanimously voted to fully divest Whitman College from the fossil fuel industry. 
 
New Reports

New Report Says Institutional Investors Are Making Room for Sustainable Investments l Digital Journal

  • This week Bright Harbor Advisors released the 2018 Bright Harbor Global Limited Partner Sustainable Investing Report, which looks at the current perspective of global institutional investors on sustainable investing and primarily focused on the alternatives investments asset class. The report highlights that 81% of institutional investors surveyed now have a sustainable mandate; and water and wastewater treatments gain favor over solar and wind.
 
Sustainable, Responsible, Impact & ESG Investing

Does Impact Investing Have A Data Problem? l Fortune

  • This article highlights how there is little data standardization in the fast-growing field of ESG investing, and that more than half of companies, especially those in emerging markets, currently lack ESG coverage. 

More Fund Execs Look at ESG Investing as Logical Extension of Their Missions l Pensions & Investments

  • This article highlights how many foundations are carving out a portion of their portfolios for ESG and impact investing, with Catherine Konicki, partner at NEPC, Deborah Spalding, Commonfund deputy chief investment officer and managing director, and Matt Onek, president and CEO of Mission Investors Exchange sharing their views on the topic.

Sustainable Investing's Secret Weapon: Public Pensions l Reuters

  • This article highlights how investing with a focus on ESG now amounts to $12 trillion in the United States, according to a new report from US SIF. That amount has increased 38% in two years, with much of that driven by big institutional investors with big dollars to manage. CalPERS, for example, manages $344 billion for California’s public employees while CalSTRS invests $229 billion for the state’s teachers. New York State’s Common Retirement Fund manages $207 billion and New York City Retirement Systems, $195 billion, just to name a few.

ESG Drives Outperformance as 'Social' Focus Begins to See Gains l Investment Week

  • This article discusses how companies with improving ESG credentials have on average outperformed by 14.4% in emerging markets and 5.2% in developed markets over five years, according to a new MSCI report.

How to Create a Sustainable Portfolio l ING

  • Sustainable investment strategies are as varied and diverse as opinions on the subject matter itself. In the second part of this ING series, they take a deep dive into some of the most popular approaches.
 
Stakeholder Engagement on Sustainable Investing

Newly Proposed Committee for Barnard Calls for Increased Transparency, Student Involvement in Divestment/Investment Initiatives l Columbia Spector

  • The Columbia University Roosevelt Institute has proposed the creation of an Advisory Committee on Socially Responsible Investing at Barnard to serve as a channel between students and the administration, with the goal of facilitating investment and divestment proposals and increasing transparency surrounding Barnard’s endowment.

Why Can’t Students Know How University of Maryland’s Endowment is Funded? l DiamondBack

  • This article outlines the need for the University of Maryland endowment, valued at over $1 billion and managed by the University System of Maryland Foundation, to be more transparent in how it invests its funds in companies in the form of stocks, bonds, and mutual funds.

Rob Wallace Discusses Impact of Endowment on Stanford’s Success l Stanford

  • In this Q&A, the chief executive officer of Stanford Management Company explains how the university’s endowment works.
 
Diversity, Equity, Inclusion, and Gender Lens Investing

This Tool is an Easy Way to Check if Your Investments Support Gender Equality l Quartz

  • As You Sow has created an online screening tool that anyone can use for free to find out how a given mutual fund scores on the issue of gender equality. The tool analyzes the companies held inside more than 5,000 popular funds in the US against 12 metrics created by Equileap, the foremost organization providing data on gender equality in the corporate sector. 

Webinar Recording: Incorporating Diversity, Equity, and Inclusion (DEI) Factors in the Investment Process l Intentional Endowments Network

  • This webinar gives a high-level overview on how investors can incorporate diversity, equity, and inclusion (DEI) factors at various levels of the investment process. Panelists introduced the basics of DEI, why DEI consideration is important, and the various ways an institutional investor can consider DEI issues. 
 
Green Bonds

Investors Want ESG to Take Off in Bonds, Cerulli Says l Institutional Investor

  • ESG investing is taking root in the debt markets, where demand for ESG offerings is outstripping supply, according to consulting firm Cerulli Associates. The inclusion of ESG factors in fixed income is becoming more widespread, but opportunities for socially responsible investing remain scarce, Cerulli said. The firm expects strong demand from intuitional investors in Europe will drive the creation of ESG offerings in fixed income over the next five years.
 
Investment Firm News

20 Minutes With Michael Tiedemann on the Push Toward Impact Investing l Barron's

  • Michael Tiedemann, chief executive officer, chief investment officer, and founding partner of Tiedemann Advisors, has a long history with charitable and philanthropic causes. He is chairman and founder of the board directors of The River Fund New York, whose mission is “to feed and empower those we serve to move beyond the lines of poverty.” In this Q&A, Tiedemann discusses the company’s push into impact investing.

Mirova Appoints Amber Fairbanks as Co-Portfolio Manager on the Global Sustainable Equity Fund l Business Wire

  • Mirova this week announced it has appointed Amber Fairbanks, CFA, as co-portfolio manager for the Mirova Global Sustainable Equity Fund. Fairbanks joins co-managers Jens Peers, CFA and Hua Cheng, Ph.D, CFA, who have managed the fund since its inception. Mirova is growing globally with an asset growth rate of 158% in the last five years.

HSBC GAM Unveils Two Global ESG Funds l City Wire

  • HSBC Global Asset Management has launched a pair of sustainable multi-asset funds. The HSBC Global Sustainable Multi-Asset Conservative Portfolio and HSBC Global Sustainable Multi-Asset Balanced Portfolio will follow the same methodology and invest across a range of asset classes and regions. 
 
General Endowment News

The New Endowment Tax l Inside Higher Ed

  • This article discusses last year's passage of a new tax on the endowments of private institutions, moving some higher education institutions from tax-exempt to taxable.

Investment Chief Resigning From $12 Billion Hawaii Endowment l Institutional Investor

  • The investment chief for Hawaii’s Kamehameha Schools system plans to retire, according to two sources with knowledge of the situation. Kamehameha Schools — which managed $11.5 billion as of June 30, 2017 — is in the early stages of searching for a successor for vice president Elizabeth Hokada. The nonprofit has retained New York City-based recruiting firm David Barrett Partners to assist in its full-scale search, one source said. 
 
Climate Risk, Science, and Regulation

Carbon Emissions Will Start to Dictate Stock Prices l EurekAlert

  • Companies that fail to curb their carbon output may eventually face the consequences of asset devaluation and stock price depreciation, according to a new study out of the University of Waterloo. The researchers further determined that the failure of companies within the emission-intensive sector to take carbon reduction actions could start negatively impacting the general stock market in as little as 10 years' time.

Al Gore Says Climate Change Is ‘the Biggest Challenge We’ve Ever Faced’ l Barron's

  • This article discusses how Al Gore, the former U.S. Vice President and co-founder of Generation Investment Management, continues to ring the alarm that climate change and environmental damage is a global emergency.

William & Mary University Announces New, Long-Range Sustainability Plan l William & Mary

  • William & Mary announced this week the adoption of the university’s first long-range, comprehensive Sustainability Plan. As part of the plan, the university has signed onto the Sustainable Endowments Institute’s Billion Dollar Green Challenge, pledging to grow its green revolving fund for environmental efforts from $200,000 to $1 million by 2025. W&M is the first public institution in Virginia to join the challenge.

At Least 56 killed, 130 Missing in California's Deadliest Wildfire l Reuters

  • National Guard troops joined the grim search on Wednesday for more victims in the ruins of an incinerated northern California town while the death toll climbed to 56 in the most deadly and destructive wildfire in the state’s history. The latest fatality count was announced as authorities released a revised list of 130 people reported missing by loved ones after flames largely obliterated the Sierra foothills town of Paradise, about 175 miles (280 km) north of San Francisco, last Thursday.

California's Biggest Utility In Crisis Over State's Worst Fire l Investor's Business Daily

  • California's biggest utility was plunged into full-blown crisis by the possibility that its equipment sparked the catastrophic Camp Fire ravaging the state. Shares of PG&E plummeted 30% after the company said it had exhausted its revolving credit lines, signaling its growing financial stress. Damages from the deadly Northern California wildfire may reach as much as $15 billion, Citigroup analyst Praful Mehta wrote in a research note Wednesday.
 
Fossil Fuel Divestment

Harvard Undergraduate Council Puts Two Divestment Referenda on Election Ballot l The Crimson

  • The Undergraduate Council voted to place two referenda challenging Harvard's investment decisions on the ballot for its presidential election this week. The first referendum asks voters whether the University should “completely divest its endowment from holdings in the fossil fuel industry.” Administrators have repeatedly called fossil fuel divestment — a goal long sought by some student activists — unrealistic and misguided. The second question asks whether Harvard should divest its “holdings in the Prison-Industrial Complex.”

Investing in the Future by Divesting From Fossil Fuels at National University of Singapore l The Octant

  • This article highlights the revived fossil fuel divestment campaign at the National University of Singapore.
 
Job Opportunities at IEN

Membership Manager

  • The Membership Manager will be a key member of the team and will lead in the strategy development, management, and growth of IEN’s membership. The position encompasses leading both network growth (new members) and network engagement (current members) through outreach and relationship management and strategy development.

Program Administrator

  • The Program Administrator will be a key member of the team and will support the management and growth of IEN through relationship management, delivering members services, sector research, event planning, scheduling calls and appointments, event planning, and database and website management.
 
 
Calendar of Upcoming Events

Webinar: US SIF 2018 Trends Report - Impact Investor Organizations l US SIF, November 27th, 2018, 1:00 p.m. ET

RI Americas l Responsible Investor, December 5-6, 2018

Midwest Sustainable Investing Forum l Principles for Responsible Investment, December 10th, 2018

2019 Foundation Leadership Forum l AGB, January 27-29, 2019, Fort Lauderdale, FL

2019 Higher Education Climate Leadership Summit | February 10-12, 2019, Tempe, AZ

2019 Endowment and Debt Management Forum l NACUBO, February 13-15, 2019, New York, NY

 

 

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