Weekly News Round-Up: May 10, 2019

Last night IEN members in the Boston area gathered to learn about the University of New Hampshire’s process of building an intentionally designed endowment, and to strengthen our network with some face-to-face conversation. Other opportunities to get together with peers working at the intersections of higher ed, finance, and sustainability include:

IEN member organizations can also access discounted registration rates for key events throughout the year. Currently there is member pricing available for Confluence Philanthropy’s 2nd Annual Advisors Forum / Climate Solutions Summit and the Investment Management Institute’s OCIO Solutions Summit, with more opportunities on the way! See the full calendar at the end of this week’s round-up for details.

 

Opportunities for Action

ESG Survey | Callan

  • Deadline: May 21. Callan is conducting a survey to assess U.S. institutional fund sponsors’ perceptions of ESG investment factors, seeking input both from investors who have and have not incorporated these types of factors into their investment decision-making. This survey is intended for U.S.-based asset owners (sponsors of defined benefit and defined contribution plans; endowments; foundations; Taft-Hartley plans; and other institutional investors), and should be completed by individuals with influence over the investment decision-making process, including board members, trustees, and fund/plan staff.
  • Deadline: July 8. This scholarship was started and is coordinated by a group of First Affirmative Financial Network emeriti and longtime affiliates to bring young people to The SRI Conference. Winners will be announced in late September. For questions or additional information on this program, please contact SRIscholarship15@gmail.com, and to apply, follow the link above.

Survey: What is the standing of the sustainable finance & ESG community within the wider investment world? | Sustainable Finance Network and Responsible Investor

  • Deadline: June 21. The Sustainable Finance Network has teamed up with Responsible Investor to run a fully anonymous survey on how sustainable finance professionals are being valued. Survey should take 5-7 minutes to complete. Research findings to follow.

2019 Proxy Memos and Exempt Solicitations | Interfaith Center on Corporate Responsibility

  • This page contains a list of relevant proxy exempt solicitations and proxy memos, with the arguments for why you should vote in favor.

Sign-on Opportunities

 

New Resources & Reports

Impact Investing Survey Results Summary: Investor Views on Public/Private Approach | KBI Global Investors

  • This report summarizes the finding of a recent survey of impact investing stakeholders on the goals, opportunities, challenges, and trade-offs of public and private equity approaches to impact investing. Eoin Fahy, Head of Responsible Investing at KBIGI will be hosting a webinar to discuss further the results of the above survey and any other relevant Responsible Investing topics on the 25th of June 2019 at 4pm Dublin time (5pm CET and 11am EST). Register here to join the webinar.
 

 

Sustainable Investing By Institutional Asset Owners

Endowment ESG Carve Outs Boost Returns, Quiet Divestment Advocates | FundFire

  • (Subscription required) This article discusses the experiences of higher education endowments that have begun using ESG considerations in a portion of their investment portfolio, highlighting the work of IEN members the University of New Hampshire, North Carolina State University, San Francisco State University, Strategic Investment Group, and Cambridge Associates.

CalSTRS’ Investment Committee to Study Implications of Low-carbon Economy | Pensions & Investments

  • CalSTRS' investment committee voted to study the implications of a transition to a low-carbon economy in the future and its implications for the $227.8 billion pension fund in fiscal year 2020. "The two biggest issues to come before us in the years to come are climate change and China," the chair said. Youth climate justice organizations also gathered at the meeting to push for fossil fuel divestment.

ABP Comes Closer to Reaching Sustainability Goals | Chief Investment Officer

  • By tweaking requirements for big carbon emission companies and sectors, the Netherlands’ biggest pension fund is on track to meeting the UN’s sustainability targets as well as its own. In its most recent ESG report, the $482 billion ABP’s sustainable goal-related investments increased by $6.3 billion last year, totaling  $62.3 billion, or 14% of the entire portfolio. This is only $2.6 billion shy of its $64.9 target for next year. One of ABP’s big focuses is in green bonds, or a debt that goes toward the funding of sustainable projects, such as infrastructure.

More Catholic Institutions Divest from Fossil Fuels, Urging Shipping Industry to Follow | Independent Catholic News

  • At a Vatican-convened conference, The Common Good and Our Common Seas, Catholic institutions that are connected to the oceans in Panama, the Philippines, Italy, and Greece announced their divestment from fossil fuels. The announcements were made ahead of a meeting of the International Maritime Organization, where the shipping industry will discuss its transition away from fossil fuels.
 

Sustainable, Responsible, Impact & ESG Investing

Investing for Social Impact Is Complicated. Here Are 4 Ways to Simplify It. | New York Times

  • Recent Morningstar research geared toward individual investors, financial advisers and fund managers has found that impact investing is more broadly popular than advisers believed and that this may be a golden age for measuring the financial and social returns on such investments. This piece features lessons from Morgan Stanley, GIIN, B Lab’s Global Impact Investment Rating System, Sustainability Accounting Standards Board, and Cornerstone Capital.

Changing Trustee Perceptions of ESG Investing | Professional Pensions

  • As the pensions industry prepares for new fiduciary duty regulations aimed at embedding ESG considerations, trustees are being questioned as to whether they need to "rethink" their perception of these investment tools.  For many trustees, ESG considerations are considered restrictive when it comes to the stock selection process, and some broadly underestimate the positive impact ESG metrics can have on investments over the long term. The evolution of the universe over the past two decades has shown that ESG considerations have the potential to improve the fund management process in a number of ways.

Inside the Quest to Measure the Impact of Impact Investing | GreenBiz

  • This article summarizes efforts to improve impact measurement, including the “impact multiple of money” methodology developed by TPG Capital’s Rise Fund and the Impact Management Project.

Rockefeller Foundation Move Signals Sign of the Times for ESG | ETF Trends

  • This piece points to IEN member the Rockefeller Brothers Fund’s move to divest from fossil fuels as a signal of a broader trend. Socially-responsible investing may be turning a corner as demand for ESG fixed income products exceeded supply in Europe. Inflows into ESG fixed-income products surpassed $11.4 billion the last two years, but a shortage of benchmark indexes that measure ESG-focused criteria makes it difficult for its inclusion in the asset class.

Oil Stocks in Your Environmentally-conscious Fund? There Are Other Options | Philadelphia Inquirer

  • This article points out that there are no universal standards for ESG metrics, and companies are graded on a curve — and may receive a good ESG score simply because it’s a bit better than a set of poor ESG companies'. Strategies for digging deeper on various issues are presented.

Index Investing’s Risk Or Reward | ETF

  • This article recaps a debate from the Morningstar Investment conference on the question: Are index funds eating the world? On the one hand, ownership concentration among the largest institutional investors like Vanguard, BlackRock, and State Street was seen as a risk for decreasing competition, higher prices, and slower growth; on the other hand observers pointed to these firms’ engagement with companies on long term governance issues and lack of engagement on price or direct competition.

How Companies Get Cheaper Loans for Doing Social Good | Washington Post

  • This explainer looks at financing options based on socially responsible business practices, which are described as positive incentive loans, ESG-linked loans, or sustainability-linked loans.

Hedge Funds Drag Their Feet When It Comes To ESG | Institutional Investor

  • Hedge fund firms continue to be slower than other alternative investment firms when it comes to embracing ESG-oriented investing strategies, a new report from Preqin shows. But increasingly, funds like AQR Capital Management — which released a responsible investing framework in partnership with the UN Principles for Responsible Investment — are considering the matter.

ESG a ‘Race to the Top’ For Best Companies: 2019 SALT Conference | 401k Specialist

  • Speaking at the SALT 2019 conference, Nuveen president and CIO Jose Minaya described trends toward ESG factors being more deeply integrated into all investment decisions, noting the challenges with data and transparency.

Investors Must Realise Evolution Is a Much Better Option than Extinction | Telegraph

  • This piece outlines trends pushing institutional investors to move beyond “lip service” to ESG issues, toward more significant shifts in both the way funds report on their portfolios, and in their approach to longer term, activist investments.

Letter from America: US Investors Finally Wake up to Sustainable Considerations | Investment Week

  • In this commentary, the manager of the Rathbone Global Sustainability fund observes the shift in thinking about sustainable investing among U.S.-based investors.
 

Shareholder Engagement

NY State Pension Fund and Church Commissioners for England Call for Exxon to Separate Board Chair and CEO Positions | Office of the NY State Comptroller

  • After a climate proposal was blocked from ExxonMobil’s annual meeting, two major shareholders are taking a new approach. The New York State Common Retirement Fund and Church Commissioners for England are supporting a shareholder proposal that calls on ExxonMobil to require the board chair be an independent member of the board, and also announced they would vote against all Exxon board directors at the May 29 annual meeting. The Fund and the Church of England will vote in favor of two other shareholder proposals that ask Exxon’s board to create a “climate committee” to evaluate the company’s “strategic vision and responses to climate change” and that the company disclose its spending on lobbying.

Shareholder Votes on Environmental and Social Issues Are Actually Starting to Produce Victories | Toronto Star

  • This opinion piece reviews progress that is being made on improving companies’ environmental and social performance as a result of shareholder engagement.

Deutsche Bank Leaders Face Investors’ Ire Over Scandals, Shares | Bloomberg

  • ISS and Glass Lewis - the world’s biggest shareholder advisory firms - are recommending investors vote against Deutsche Bank’s management and supervisory board at its annual general meeting on May 23. The firms pointed to the shares, which lost about 40 percent over the past year, as well as the bank’s continued legal and business challenges.
 

Community Impact Investing

Opportunity Zones: A Summary of the New Guidance for Investors | Invest with Values

  • This post explains what the new guidance released by the IRS and Treasury Department last month means for investors.

Amid a Crisis of Inequality, $2 trillion of Tax-free Investing in Opportunity Zones Could Benefit Both Rich and Poor | CNBC

  • This commentary from IEN member HIP Investor explains that more than $2 trillion in unrealized gains sit on the ledgers of investors and corporations, according to the Economic Innovation Group; investing these funds directly in 8,700 Opportunity Zones (or 1 in 8 U.S. Census tracts) for 10 years or more would eliminate any federal taxes due on those gains – and potentially reduce poverty via job creation and income growth related to those investments.
 

Diversity, Equity, & Inclusion

Princeton Looks to Break Up the White Male Money Monopoly | Bloomberg

  • This article reviews the astonishing lack of diversity in higher education endowment management, as well as in the ownership of investment firms through which endowments invest. Higher ed endowments, with over $600 billion under management across the U.S., remain almost exclusively the province of the white and the male, making them an anomaly in the world of higher education, where women now earn almost 60 percent of U.S. bachelor’s degrees, and nonwhite students, more than a third. Provides an in-depth look at Princeton’s efforts to make its roster of outside money managers more diverse.

Fidelity Launches Fund Targeting Firms With Women in Leadership | Bloomberg

  • Fidelity Investments has started a mutual fund that invests in companies with a high percentage of women in leadership positions. The actively managed Women’s Leadership Fund is led by Abby Johnson. The fund will invest in about 100 companies that have either one-third women board members, a woman on the senior management team or that meet gender diversity initiatives for hiring, retention, paid leave and promotion of women.

ESG Matters: Recruits Can’t All Come from Ivy League Schools | Chief Investment Officer

  • Since diverse investment teams have been linked to higher returns, firms have set goals to hire teams with more women and minorities. Firms often blame the pipeline for lack of diversity on their teams; this piece profiles groups that support smart, qualified candidates that often wouldn’t make it into the hiring ring because they may lack traditionally prioritized connections.

KKR and Harlem Capital Launch Talent Partnership to Recruit Underrepresented Investment Professionals | Yahoo Finance

  • KKR and Harlem Capital Partners have launched a partnership to provide a pathway for talented women and minorities who are early-career professionals, undergraduates or MBA candidates, to increase their presence in the investment management industry.
 

Student Managed Funds & Sustainable Business Curriculum

David Slays The B-School Goliaths In First Total Impact Portfolio Challenge | Forbes

  • This piece describes the winning University of Vermont team in the inaugural Total Impact Portfolio Challenge, the brainchild of Wharton’s Social Impact Initiative and the Good Capital Project, a unit of Intentional Media. The event, sponsored by Bank of America, posed an audacious goal: reimagine impact investing and pitch a more innovative and effective way to invest capital in for-profit companies with a social conscious. It's an increasing popular topic on business school campuses.

Private Colleges Team Up with Harvard Business School Online to Create Unique Hybrid Learning Program | Yahoo Finance

  • Michigan Colleges Alliance (MCA) is collaborating with Harvard Business School Online to offer students at participating MCA campuses a blended learning program. In the first phase, approximately 70 students from five Michigan private colleges offered HBS Online's Sustainable Business Strategy course to their students this spring.
 

 

Investment Firm News

Blackstone Launches Impact Investing Strategy | GlobeSt

  • Blackstone has announced the launch of a new impact investing platform that will focus on four areas including sustainable communities. The other themes are health & wellbeing, financial access and green technology. The platform, which will be part of the firm’s Strategic Partners group, is illustrative of a larger trend among private equity shops to invest in assets or concepts that promote the social or environmental good. Tanya Barnes, former managing director in Goldman Sachs’ Merchant Banking Division, has joined Blackstone as a managing director to lead this initiative.

LeapFrog Breaks Impact Investing Record, with A$1 Billion Emerging Markets Fund | Associated Press

  • LeapFrog Investments has announced the largest-ever private equity fund by a dedicated impact fund manager, surging past its$600m target to reach around US $700m. The new fund invests in healthcare and financial services companies – tapping into the demand from billions of emerging consumers in Asia and Africa. Investors include many of the world’s leading insurers, pensions and asset managers, development finance institutions, foundations and family offices.

Introducing Optimus: Simple, Tax-Efficient ESG for Advisers | OpenInvest

  • IEN member OpenInvest announces the launch of a new platform to help close the gap between investor demand and adviser capacity for ESG strategies. For advisers, the Optimus platform enables customization for every client, at every asset level, without compromising risk management. For the socially-minded investor, Optimus reports on the environmental and social impact scores of client portfolios in concrete, intuitive terms.

SASB Founder and Former Head of NASA Join Terra Alpha Investments’ Advisory Board | Terra Alpha Investments

  • IEN member Terra Alpha Investments announced two new members joining its Advisory Board in May 2019, Jean Rogers and Charles Bolden.

Eaton Vance CEO on Responsible Investing, Reinventing ETFs, Acquisitions | Barron’s

  • Eaton Vance Chief Executive Tom Faust has “flipped the switch” to integrate ESG considerations across the asset management firm, tapping the research of Calvert Research and Management, the responsible investing firm it bought in 2016. While Calvert will continue to be the company’s brand for investors looking to make money while doing good, Faust tells Barron’s that fund managers across the whole company, which oversees $458 billion, will also tap into Calvert’s research.

Quantifiably Green: $46bn Asset Management Firm’s CIO Outlines ESG Ambitions | CityWire

  • There are two major undercurrents in fund management at present – ESG and technological advancement in the form of quantitative investing. George Mussalli, chief investment officer and head of research for equity at US-based quant specialist PanAgora, describes how his firm is seeking marry the two together as best as possible.
 

Economic & Policy Shifts

Climate Policy Can Recreate Prosperity of the New Deal | The Hill

  • IEN Leadership Level member Wallace Global Fund’s co-chairs explain parallels between the New Deal that came out of the Great Depression and the proposed Green New Deal which would put millions of people to work as we transition to a fossil-free economy, build clean infrastructure, re-invest in communities, and reverse the devastating impacts of climate change on our planet, our economy and public health.

“We Don’t Have a Choice”: Colorado Coal Counties Try to Plan for Unsure Economic Future | Denver Post

  • This piece reports on a conference aiming to help coal-reliant communities draft new economic road maps.

Carbon Capture Legislation: a Small Step on the Long Corporate Climate March | GreenBiz

  • More than a dozen senators from both parties support the Utilizing Significant Emissions with Innovative Technologies (USEIT) Act: legislation that seeks to remove barriers to deployment of technology that captures carbon emissions from industrial sources or directly from the air. That technology could spawn a whole new group of industries that use the carbon in their products.

We Cannot Solve Climate Change without Transforming the Global Financial System | CDP

  • This blog post from CDP summarizes two things that need to happen in the global financial system if we are to enable a low-carbon transition that is sustainable: financial stability and asset pricing must be strengthened, and the financial sector must improve its contribution to sustainable and inclusive growth over the long term. The role of central banks and other stakeholders is discussed.

Jeffrey Hollender on the Green New Deal and Why It’s the Best Vision for Change | Invest with Values

  • The CEO of the American Sustainable Business Council outlines the business opportunities presented by the proposed Green New Deal and calls for responsible businesses to help develop the details of the plan.
 

 

Climate Risk, Science, and Clean Energy

Nature Is in the Worst Shape in Human History, U.N. Report Says | Los Angeles Times

  • Nature is in more trouble now than at any other time in human history, with extinction looming over 1 million species of plants and animals. It's all because of humans, but it's not too late to fix the problem, according to the UN’s first comprehensive report on biodiversity. The Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services included more than 450 researchers who used 15,000 scientific and government reports. The report's summary had to be approved by representatives of all 109 nations.

Loss of Biodiversity is Just as Catastrophic as Climate Change | The Guardian

  • Chair of the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES), and former chair of the Intergovernmental Panel on Climate Change (IPCC) Sir Robert Watson provides more context on the twin threats of climate change and biodiversity loss, including the links between them.

Markets Missing Fossil Fuel Exposure to Climate Risk: Analysis | France 24

  • Investors are overlooking the long-term risks climate change poses to oil and gas infrastructure firms, which face tens of billion of dollars worth of stranded assets as the world transitions to greener energy, according to new analysis by investment fund ATLAS.

The World Has Already Found All the Oil It Should Ever Burn | Houston Chronicle

  • If governments enforce the climate change mitigation policies they have promised, the global supply of oil will far exceed demand, according to a Boston Consulting Group analysis of data from publicly-traded energy companies and the International Energy Agency. The big energy companies plan to produce 21 percent more oil in 2025, but the IEA expects demand to increase only 10 percent due to climate change regulations. Odds are, though, that the rules will be much stricter than the IEA projects. If we burn all existing oil reserves, the planet will heat to an unbearable temperature.

Valérie Plante Takes Aim at Fossil Fuels with Divestment, Fuel-heating Plans | CBC

  • Montreal Mayor Valérie Plante is aiming to gradually phase out fuel-burning heating systems and urging pension fund managers to divest from fossil fuels. Both pledges, however, aren't likely to have an impact any time soon on the city's attempt to curb carbon emissions. Plante plans to draft a law next year "prohibiting oil heating systems in new constructions in the Montreal agglomeration" by 2030.

Fringe Demand Goes Mainstream: Stop Drilling and Mining | E&E News

  • This piece looks at the dynamics of the Democratic presidential primary campaign and argues that a growing number of candidates are embracing a once-fringe demand that could cut emissions at the scale of the Obama administration's biggest climate policies: a complete fossil fuel moratorium on public lands and in federal waters.

‘What Does the Science Say?’: Bipartisan Group of Legislators Reintroduces Bills to Get Pennsylvania 100% Powered by Renewable Energy | NPR

  • A bipartisan group of state legislators is re-introducing a pair bills aimed at getting Pennsylvania to have 100 percent renewable energy by 2050. Pennsylvania is already experiencing disruptions from the warming climate, including more precipitation and extreme weather. The bills’ supporters acknowledge the chance of passage remains unlikely in Pennsylvania’s current political landscape. Among U.S. states, Pennsylvania ranks second and third for production of natural gas and coal, respectively.
 
 

Circular Economy News

(Watch) Dutch Businesses Work to Test the Concept of a Circular Economy | PBS

  • The Netherlands has become a global leader in implementing the tenets of a “circular economy,” a radical new approach to sustainable living that focuses on reducing consumption, minimizing waste and reusing nearly everything.

Over $100 Billion Generated By The U.S. Recycling Industry In 2018 — An Indicator That The Circular Economy Is Big Business And Growing In 2019 | Medium

  • This post summarizes trends in the recycling industry across the U.S., including municipal recycling programs, innovative technologies, and leadership by consumer brands.

Virginie Helias: P&G’s ocean plastic bottles ‘only the beginning’ of war on plastic | Ethical Corporation

  • This in-depth piece examines efforts to reduce plastic waste. Procter & Gamble’s chief sustainability officer discusses how the company has evolved in its approach, including the recent launch of the Loop platform, a partnership to radically cut packaging waste, led by P&G and New Jersey waste company TerraCycle. Partnerships like the World Business Council for Sustainable Development and advocates like Greenpeace have been critical to making progress.
 
 

General Higher Education Endowment News

Endowments Led by Women Outperform Those Led by Men | Pensions & Investments

  • Despite leading only 18 of the 100 largest endowments, female CEOs, CIOs, or presidents have on average outperformed men or OCIOs in 1- and 5-year endowment performance. Unfortunately, even with this strong performance, the gap between men and women among the ranks of endowment leadership is widening. Since 2013, nine women have been replaced by men among endowments with more than $500 million in assets, while only one man has been replaced by a woman.

Endowments Unharmed by Tax Law Changes…So Far | Chief Investment Officer

  • This article looks at the impact of tax law changes passed in 2017. So far, charitable giving to higher education foundations has not only not diminished since the new tax law was passed, but has actually risen over the past couple of years. The other major tax reform change that threatened endowments and foundations was the so-called “endowment tax,” which is a 1.4% excise tax on net investment income at private colleges and universities with at least 500 students and assets valued at $500,000 per full-time student.

Commentary: It May Be Time To Rethink Your Annual College Donation | WBUR

  • This commentary argues that giving by wealthy families to wealthy universities only deepens and exacerbates inequality in America. The 20 top schools — a minuscule percentage of America’s more than 4,000 colleges and universities — raised 28% of the $46 billion given to higher education last year. Seven schools received gifts of at least $100 million. Harvard, Stanford and Columbia each raised more than $1 billion.

Harvard Piles Into Hedge Funds as New Chief Overhauls Endowment | Bloomberg

  • Harvard University’s N.P. “Narv” Narvekar is doubling down on an investment that has fallen out of fashion: hedge funds. Narvekar’s bet on the sophisticated, high-cost brand of money manager marks the biggest since the university hired him in 2016 to turn around the lagging performance of its $39 billion endowment.

Universities With the Highest Endowments in Canada 2019 | University Magazine

  • This article gives a basic primer on how university endowments operate, and lists the ten largest higher education endowments in Canada, led by IEN member the University of Toronto’s CAD$2.38 billion endowment.
 

 

General Higher Education Sustainability News

EAUC Declares a Climate Emergency | EAUC

  • EAUC, the UK-based Alliance for Sustainability Leadership in Education, calls for all post-16 education institutions and support bodies in the UK and Ireland to declare a Climate Emergency and to commit to the Committee on Climate Change’s recommendation to adopt as a minimum a 2050 net zero emissions target. The alliance will collate the education sector’s response to this and send to UK and Ireland Governments to lobby them to act and show the impact and leadership of our sector on this crucial agenda.
 

Fossil Fuel Divestment

Fossil Fuel Complicity No Longer Hidden Behind ‘Fiduciary Duty’ | CleanTechnica

  • This article looks at the arguments behind efforts by Massachusetts municipal and county retirement systems to divest from fossil fuels, as well as broader trends in fossil fuel divestment advocacy.

Divesting from Fossil Fuels Will Pay Off in Long Run, NYC Comptroller Says | Brooklyn Daily Eagle

  • City Comptroller Scott Stringer, who oversees almost $200 billion in assets for New York City’s five public pension funds, strongly disagrees with the notion that fossil fuel stocks and bonds are gold-plated investments. “I think the future of our economy is in green investments, whether it’s solar or coastal resiliency,” he said. “There’s a market for green bonds and blue bonds, and so part of what I’m doing is doubling down, doubling our investments in the green economy, and we are now engaged in a fossil-fuel divestment plan.”

Cambridge University Agrees to Explore Fossil Fuel Divestment Plan | The Guardian

  • Cambridge University’s management accepted a motion, known as a grace, which urged Cambridge to “set out fully the advantages and disadvantages, including the social and political ones”, of divestment from global coal, oil and gas companies. The grace, agreed without adjustments by management, follows an escalating campaign by staff and students concerned about Cambridge’s financial backing for the fossil fuel industry.

Harvard Management Company Compliance Chief Debates Divestment With Activists | Harvard Crimson

  • Harvard Management Company Chief Compliance Officer Kathryn I. Murtagh spoke about Harvard's investment policies at a panel that also featured students and faculty calling for the University to divest from companies with ties to the prison and fossil fuel industry. Murtagh — who manages sustainable investments for HMC — defended Harvard’s decision to maintain its status as a shareholder and “active owner” of a variety of assets. She said that being a shareholder provides the opportunity for investors like Harvard to engage in “formal dialogue” with companies’ management about sustainability issues.

Editorial: In Support of Fossil Fuel Divestment | Harvard Crimson

  • The editorial board reverses its long-standing stance on divestment. Having previously argued against divestment as a practice, instead calling on the University to be work with fossil fuel companies toward a more sustainable future, the editorial board “can no longer view an endowment with investments in fossil fuels as an economically sensible future.”

Climate Justice Panel Unites WesDivest and Climate Action Group | Wesleyan Argus

  • The movement to divest from fossil fuels has been sweeping the country, with many universities and colleges—including the NESCAC’s own, Middlebury— pledging to divest. This article summarizes the divestment movement at Wesleyan University, where two groups are working together on campus.
 

Calendar of Upcoming Events

IEN Events:

IEN Webinar: Future-Fit Investment Strategies | Intentional Endowments Network, May 14, 2019, 11am EDT

Community Impact Investing Roundtable 2019 | Intentional Endowments Network, September 6, 2019, Berkeley, CA

Other Events:

Davos on the Delta l iSelect Fund, May 14-15, 2019, Memphis, TN

GIIN Town Hall: Introducing IRIS+ | Global Impact Investing Network, May 16, 2019, 11am EDT (webinar)

9th Annual Conference: New Challenges New Opportunities | US SIF, June 10-12, 2019, Minneapolis, MN

OCIO Solutions Summit | Investment Management Institute, June 12, 2019, Stamford, CT, Interested members should contact Kaede Kawauchi to access the following member discounts:

  • IEN endowment members - Room and board will be covered, $350 registration fee (80% off the original price), Opportunity to speak on a panel
  • IEN asset manager members - $200 off the original price

2019 Northeast Campus Sustainability Consortium Conference: Trends in Northeast Sustainability Challenges | University of Southern Maine, June 17-18, 2019, Portland, ME

2nd Annual Advisors Forum | Confluence Philanthropy, June 24-25, 2019, San Francisco, CA, Member pricing available for IEN members.

GIIN Investor Forum | GIIN, October 2-3, 2019, Amsterdam, Netherlands

2019 AASHE Conference & Expo: Co-Creating a Sustainable Economy | AASHE, October 27-30, 2019, Spokane, WA

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