We are so grateful to everyone who celebrated and reflected with us last Thursday at our 10th Anniversary Gala! Please keep an eye out for an event summary and consider making a donation to the Anthony Cortese Fellowship Fund in honor of our co-founder. 

We also remind the Network to submit climate justice case studies to support the research papers being produced by our Climate Justice Taskforce. The submission form has further details; individuals interested in learning more about the Taskforce can contact Paris Prince and Aicha Ly.

This week’s edition of the Round-Up features a special section dedicated to COP29 coverage. The next edition of the weekly news round-up will be Wednesday, November 27th, ahead of Thanksgiving. 

In this week’s news, CalPERS Reaches $53B in climate solutions investments, Harvard expands its green revolving fund to support campus decarbonization, and HSBC reportedly shelves plans for trading, financing carbon credits.

We’re holding our 10th Anniversary Gala this evening in Boston at the Museum of Science. Thank you to everyone who joined us tonight, and all who supported the last decade of sustainability and growth in the Network.

We encourage you to contribute to the future of IEN and the professionals entering the sustainability space by donating to the Anthony Cortese Fellowship Fund.

This week’s round-up is abbreviated; we will resume the regular round-up next week.

We’re excited to say that our 10th Anniversary Gala has reached capacity! We look forward to joining the Network in exactly one week for this exciting event. If you are not attending but want to show your support for IEN, we invite you to donate to the Anthony Cortese Fellowship Fund and support the next generation of sustainable investors. 

In this week’s news, experts say a Trump return is likely to slow but not stop the US clean-energy boom, CalSTRS joins the Nature Action 100, and institutional investors representing $9.4T have set decarbonization targets.

We are two weeks away from our 10th Anniversary Gala! If you haven’t done so, there is still time left to RSVP to join us at the Museum of Science on November 14th.

The recordings of a number of recent IEN webinars are now available on our website! Members can rewatch conversations on debunking ESG myths, how ESG-conscious firms end up supporting anti-ESG regulations, and a number of Climate Solutions Investing Series calls.

In this week’s news, the NYC Comptroller Lander proposes expanding fossil fuel divestment for pension funds, the Redman family announces the creation of a $100k endowment toward a sustainability school at Arizona State University and Commonfund is soliciting responses to its Higher Education Price Index (HEPI) survey.

We’re now confirming participation in the 2025 Endowment Impact Benchmark (EIB) cohort for endowments and foundations focused on sustainable and mission-aligned investing. Participants will receive tailored feedback, a third-party verified rating, and peer benchmarking. For more information, please fill out this interest form or reply to this email.

Our 10th Anniversary Gala Dinner at the Museum of Science is just a month away! Celebrate a decade of progress and honor co-founder Tony Cortese by registering to attend and donating to the Anthony Cortese Fellowship Fund!

Also, board member Glen MacDonald will moderate a session at the Culture Shifting Summit NYC on October 24-25, 2024, with Accion’s CEO, Micheal Schlein. Register to join Glen!

In this week’s news, Washington State's landmark climate law is at risk in the upcoming election, the Kataly Foundation charts an equitable bond strategy as it looks to spend down its reserves, and Cornell’s endowment returns 8.7% for fiscal 2024.

Our virtual events are continuing this month, including a call next Tuesday on October 15 at 11 am ET. Register to join the University of Illinois’ Geri Melchiorre and Blackrock as they detail how the university’s endowment created an ESG strategy that considered material issues not based on exclusions and using the BSI Intel Framework.

We are also partnering for the Impact & Transition Investor Summit, November 12 - 14 in NYC. Register to join 350+ leading fund managers and allocators focused on transition, impact and sustainable outcomes investing for two-days of networking, insight-sharing and collaboration. IEN Members can receive a 10% discount when registering using the IMPACTNA24_IEN code. 

Please note our offices will be closed on Monday in observance of Indigenous Peoples Day.

In this week’s news, Westfuller and the Winthrop Rockefeller Foundation sit down for a conversation on investing foundation endowments through a racial equity lens, Brown University rejects a proposal on Israeli divestment, and our own Paris Prince shares reflections from the iDAC Global Summit.

Mark your calendars and register for two exciting events this month! Join us for an engaging session with Goods Unite Us on corporate lobbying impact on investment portfolios, and secure your spot for the October 15th conversation with BlackRock as they dive into their BSI Intel framework.

In addition, we’re gearing up for our 10th Anniversary Gala at the Boston Museum of Science on November 14th! Be sure to RSVP early and explore the many ways to engage and support IEN—from sponsoring the Gala, reserving a premium seating table, to donating to the Anthony Cortese Fellowship Fund.

In this week’s news, we share a profile of our Board Chair Dianne Dillon Ridgley, the AJL Foundation achieves a Platinum rating through the Endowment Impact Benchmark, and Georges Dyer shares more information on the way the EIB is moving the field toward greater transparency. 

We are excited to announce the launch of the Anthony Cortese Fellowship Fund, which preserves his legacy of mentorship and leadership in sustainability. The Fellowship Fund will support 4-6 fellows annually, including students and early-to-mid-career professionals from underrepresented backgrounds in finance.

Learn more about the fund in our recent blog post, donate to support the next generation of sustainability leaders, and don’t forget to register to celebrate Tony’s retirement at our 10th Anniversary Gala in November!

In this week’s news, a Callan Institute Report finds that larger asset manager firms have increased their DEI efforts, CDPQ acquires a 25% stake in Engie-owned UK hydroelectricity provider, and the NZAOA reveals its members emissions cuts are on track to meet Paris Agreement 2050 targets.

Learn more and register here.

December 12, 2024 | 2 pm ET

Register

The December 2024 convening will feature perspectives from GSSG Solar who will discuss the unique challenges faced by island economies as they seek decarbonization efforts and the opportunities this unveils.

Participants will learn:

• The rapid growth of renewables in Japan and Taiwan and the emerging role scope 3 emissions demands has played in the ongoing demand.
• The burgeoning Battery Storage Energy Systems market and role in decarbonization driven by the role out of successful renewable programs—namely solar.
• The benefits to security, grid reliability, and international cooperation related to the firms model of direct project investments.
• Similarities and differences to US renewables investments in wake of the recent US Elections.

GSSG Solar is a Real Assets investment manager based in Denver, Colorado that entered the Japanese market in 2014 and the Taiwanese market in 2019 to invest in solar and BESS systems as a means to achieve capital appreciation for its investors.

Felicia Davis, Co-Founder & Coordinator, HBCU Green Fund

October 15, 2024

On October 15th, IEN and BlackRock explored the innovative capabilities of BSI Intel and how the framework was used by the University of Illinois to create a new ESG strategy that considered material issues. Shortly after Illinois signed the Sustainable Investing Act (PA 101-473) into law, the University began working with BlackRock to create a strategy based on risk-adjusted returns rather than exclusions.

Key to this new strategy was the implementation of BSI Intel, a research and technology platform that helped clients identify sustainable and transition risks. Focused on forward-looking sustainability dynamics, BSI Intel identified companies most strategically positioned to benefit from the transition to a more sustainable economy.

The session highlighted the methodology behind the University of Illinois' successful strategy and the key issues the university sought to solve with a new ESG approach. BlackRock also highlighted its proprietary sustainability methodology that selected metrics based on future materiality rather than past performance, along with the utilization of over 11 data sources to deliver actionable insights.

Participants:

• Learned how the University of Illinois developed its strategy after legislation was passed in the state to support ESG integration, and what successes the university's team achieved through a strategy focused on returns rather than exclusions.
• Discovered how BSI Intel’s dynamic framework enabled customizable portfolio solutions aligned with both financial and sustainability objectives.
• Gained insights into the importance of forward-looking materiality metrics and their role in enhancing investment decision-making.

Speakers

Geri Melchiorre, Senior Director of Investments, University of Illinois System.
 Learn more about Geri

 Manling Li, Vice President, BlackRock Sustainable Investing Intelligence (“BSI Intel”)
Learn more about Manling

Jessica Thye, Co-Head of BlackRock Sustainable Investing Intelligence (“BSI Intel”)
 Learn more about Jessica

Christopher Kaminker, PhD, Managing Director, Sustainable Investment Research & Analytics (SIRA); Deputy Head, Sustainable and Transition Solutions Group
Learn more about Christopher

We are pleased to invite higher education administrators and endowment decision-makers on September 30th at 12 pm ET for a virtual Chatham House Rule conversation on stakeholder engagement around conflict-related divestment. Given the topic’s sensitivity, IEN may limit attendance, and participants are expected to uphold confidentiality and engage respectfully.

In this week’s news, As You Sow releases its 2024 Shareholder Impact Review, Endicott announces a sustainability plan to steward the institution through 2030, and Generation Investment Management releases its Sustainability Trends Report.

We’re delighted to announce The Russell Family Foundation achieved a platinum rating through the Endowment Impact Benchmark. The deadline to join this year’s EIB cohort has been extended to September 30th. Endowments and foundations interested in participating or learning more should reach out to Georges Dyer at [email protected].

In this week’s news, Impax’s Charlie Donovan analyzes AI’s double-edged role in the sustainability revolution. We’re looking forward to celebrating Dr. Tony Cortese at IEN's 10th Anniversary Gala, and Georges Dyer speaks to how business-school funds give MBA students a jump on careers in and out of impact investing.

Join us for our next Climate Solutions Investing Series Call featuring Mercator Partners on September 17, 2024, at 2 pm ET. We’ll explore opportunities for direct, high-impact investment in climate management strategies. Register now to hear the manager's perspective on the market.

In this week’s news, the Denver Foundation reviews how investing with diverse asset managers can lead to stronger investment performance, San Francisco State may become the first university to endorse some divestment after Gaza protests, and Inside Philanthropy talks values-aligned investing with Marguerite Casey Foundation CEO Carmen Rojas.

Climate Week NYC 2024 is one of the largest global forums for climate change, gathering leaders from business, government, and civil society to collaborate on climate solutions. For endowed institutions, Climate Week provides critical insights into how sustainable and impact investing can drive climate justice while ensuring long-term financial resilience.

October 29, 2024 | 12 pm ET

IEN’s climate solutions series will focus on opportunities for direct, high-impact investment in climate solutions. Each conversation in this interactive series will focus on a manager or group with a perspective in the market, giving them an opportunity to share their work, what they’re seeing in the space, and explore the range of what’s possible.

The October 2024 call featured perspectives from IEN Member Schroders. Participants joined Kate Rogers, Schroders' Global Head of Endowments and Foundations and heard from two experienced Endowment investors on how they are taking their climate ambition and reflecting it in their investments.

Topics covered commitments and motivations, asset allocation decisions – avoiding harm and allocating to solutions, and action through engagement and advocacy.

She was joined by Joel Beckman from the Cambridge University Endowment Fund to hear how the UK investor is taking climate action on their £4bn Endowment Fund.

She was also joined by William Orum from Capricorn Investment Group, who builds and manages long-term, multi-asset class portfolios, aligned to the unique financial and impact objectives of a range of Endowments, Foundations and families.

Kate highlighted the range of investable climate solutions that Endowments and Foundations are using - with many offering attractive returns, diversification benefits as well as climate outcomes.

Recording:

Speakers:

 Kate Rogers, Global Head of Endowments & Foundation, Schroders

 William Orum, Partner, Capricorn Investment Group

 Joel Beckman, Communications Lead, Cambridge University Endowment Fund

September 17, 2024 | 2 pm ET

IEN’s climate solutions series will focus on opportunities for direct, high-impact investment in climate solutions. Each conversation in this interactive series will focus on a manager or group with a perspective in the market, giving them an opportunity to share their work, what they’re seeing in the space, and explore the range of what’s possible. 

The September 2024 call will feature perspectives from IEN Member Mercator Partners. Mercator Partners is an asset manager dedicated to capitalizing on decarbonization across power supply, manufacturing, transport, and primary production. 

The recent burst of significant near-term incremental data center power demand is accelerating overall US load growth. The Mercator team will look at how the sectors and stakeholders involved generate a "drag-along"/acceleration effect of Renewable Energy, Electrification, and the Energy Transition. They will also speak to a subset of key performing themes, sectors, and companies that are particularly well placed to benefit from this catalyzing effect.

This series is open to IEN Members only and is a part of IEN's Net Zero Endowments Initiative. To learn more about the initiative or to join, please contact Aicha Ly at [email protected].

Speakers:

 
 Florian Leyhausen – Business Development, Mercator Partners

 

 Martin Fransson – Partner & Head of Primary Research, Mercator Partners

 

 Scott Hobart – Partner & Chief Investment Officer at Mercator

Recording:

September 30, 2024 | 9 am PT / 12 pm ET

IEN hosted a virtual conversation for endowment decision-makers to share ideas, best practices, and questions related to engaging stakeholders around conflict-related calls for divestment. 

Participation ws designed for CIOs, investment staff, trustees, investment committee members and administrators. The conversation was be confidential and under the Chatham House Rule, ensuring a safe space for peers to openly share their thoughts and questions. 

The conversation was seeded by 2-3 endowment leaders sharing their experiences and perspectives, followed by an open conversation including space for questions, resources sharing, and examples of effective approaches. 

Recognizing that issues related to conflict -- particularly the ongoing Israeli-Palestinian conflict -- are complex and can generate strong emotional responses from multiple perspectives, the conversation was be guided by a set of ground rules. By registering for this conversation, participants agreed to adhere to the principles of respect, confidentiality, open-mindedness, and constructive dialogue.  

Shareholder engagement and its real-world impacts will be the focus of our upcoming webinar on October 12 with the MIT Sloan Sustainability Initiative. Register to join IEN and researchers Julian Kölbel and Florian Heeb to review the results of a new working paper that sought to answer the question: does engagement with corporations on climate policy deliver tangible results?

In this week’s news, the Kathleen Simpson of TRFF explores 5 ways to redefine philanthropy’s role in the fight against climate change, Ivy League money managers confront renewed demands over Israel, and we review key takeaways for institutional investors following UNCF UNITE.