IEN's Investment Governance Initiative supports endowment fiduciaries in developing the tools needed to provide the leadership, stewardship, and governance to ensure their portfolios and institutions are positioned to have their investment practices reflect their mission while meeting the endowment’s risk and return objectives. This call will expand on the initiative's work around systems level investing with perspectives from The Investment Integration Project (TIIP).

The Investment Integration Project (TIIP) recently released a report entitled (Re)Calibrating Feedback Loops: Guidance for Asset Owners and Institutional Investors Assessing the Influence of System-level Investing, which provides a framework for investors to assess their impacts and influence on systemic risks, through case studies of climate change, income inequality and racial inequity. Co-authored by William Burckart, Melissa Eng, Jessica Ziegler and Monique Aiken, the reports brings together concepts from several of TIIP’s preceding measurement reports as well as a range of industry thought leadership to re-introduce pathways for system-level investing.

The report builds on a series of interrelated projects, each of which aims to develop dimensions of the shared infrastructure and principles that are pivotal to shifting the financial sector from uncoordinated innovation to building the marketplace for system-level investing. The first of these was TIIP's Industry Needs Project in 2021, which helped determine whether and how much the financial industry knows about system-level investing and how to encourage and support widespread adoption of this approach. One of the primary findings was that an industry-wide embrace of system-level investing will depend, in large part, on ensuring that investors have access to frameworks for assessing their impact on systemic issues. This includes guidance on good governance, effective due diligence, meaningful reporting, and the data to support these processes.

(Re) Calibrating Feedback Loops seeks to provide a practical framework with tools to help investors ensure that their policies, programs, and practices are aligned with their overarching system-level goals—do all actions work in the direction of a healthier and more resilient system? Furthermore, the impact of an investor’s actions will be amplified when they can gain momentum through collaborative efforts of the financial system. Aligning the actions of many investors with varying resources and capabilities to achieve system-level goals is what will recalibrate feedback loops to support stable systems.

The report was informed by a working group of industry leaders who were instrumental in ensuring the practical applicability and usability of the guidance. The report also includes a detailed roadmap of the process by which investors can assess system-level investing progress, with examples focused on the systemic issues of climate change, income inequality, and racial inequity. The guidance developed through this research and report seeks to answer the following questions:

• What is the relationship between the standards and goals set by investors at a portfolio level and the overarching indicators of progress at a system level?
• In what ways and to what extent does the management of portfolio-level risks and rewards translate into system-level progress?
• In what ways and to what extent do system-level developments affect portfolio-level performance?

The findings from this project reinforce the need for more robust data to be leveraged in the evaluation of system-level progress. Applying the framework presented in this report will help the financial industry better fulfill the promise of system-level investing as a force for calibrating—or recalibrating as the case may be—the feedback loops between investors, and overarching social, financial and environmental systems. In doing so, investors will help to ensure that their investments intentionally support the health and resilience of crucial systems, reduce systemic risks, and promote opportunities for all

To learn more or join this group, please contact Georges Dyer at [email protected]

Recording

Slides

April 24 | 1 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 April 2024 call will feature perspectives from IEN Member Terra Alpha, who will focus on the role of public companies in the energy transition. Part of Terra Alpha's work is to identify companies leading the climate transition to a sustainable economy, emphasizing key metrics like the Science-Based Targets Portfolio Coverage. 

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].

 

Recording:

Slides

 

Speakers:

 

 

 Dan Sanborn, CFA, Senior Portfolio Manager, Partner, Terra Alpha Investments

 

 

 

 

 Julianna Brunini, CFA, Senior Investment Analyst, Director of Research

March 28, 2024 | 11 am 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. 

I Squared is a leading infrastructure investment firm that seeks to deliver innovative and practical solutions that drive results and shape our future, meeting today’s challenges for a better tomorrow. Since inception, I Squared has owned and developed over 5,800MW of renewable energy capacity.

The call's speaker was Damian Darragh, Fund Partner for the Firm’s Energy Transition Infrastructure strategy. Prior to his current role, Damian was the Founder of the UK’s largest flexible generation platform and I Squared portfolio company, Conrad Energy.

Damian spoke to how technological advancement, including battery storage, is providing critical intermittency solutions and how geopolitical tensions and legislative initiatives, including the Inflation Reduction Act, are accelerating renewable adoption across Europe and the United States.

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].

Recording

Slides from the call

Speaker:

 Damian Darragh, Fund Partner, I Squared

Damian is a Fund Partner at I Squared, focused on the Energy Transition sector globally. Prior to his current role, Damian founded Conrad Energy, a Fund I and Fund II portfolio company of I Squared. Under Damian's leadership, Conrad Energy has grown to be the UK's largest flexible generation platform with a portfolio of over 1 gigawatt of gas generation, grid-connected battery and solar assets backed by a highly automated trading and operational platform.

Damian has over 30 years of private equity infrastructure investment experience, with a particular focus on renewable energy, throughout his career including setting up and sponsoring Independent Power Producers. Prior to Conrad Energy, Damian was a Managing Director at Terra Firma, where he led the investment activity in the sector. During that time, Damian built three leading renewable energy utility businesses, through organic and buy-and-build growth strategies: Infinis (which had an initial public offering as the UK's largest independent renewable energy business), EverPower (a leading U.S. onshore wind company) and RTR (an Italian solar business that was established through a series of deals with the grid operator, Terna).

In addition to being Chairman at Conrad Energy, Damian currently holds non-executive board positions at the Energia Group (an I Squared portfolio company), Lynher Energy and AEDL ( a European toll road company).

Damian has a Sloan Fellowship MSc from London Business School and a Master's degree in Electronic Engineering Science (MEng) from the University of Manchester and L'Institut Supérieur D'Electronique du Nord in Lille, France.

February 27 | 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 February 2024 call featured perspectives from IEN Member Breckinridge Capital Advisors. Breckinridge is a Boston-based, independently owned investment advisor specializing in investment-grade fixed-income portfolio management, and spoke to opportunities in fixed income and provide its market views on related climate solutions. 

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].

Recording

January 18, 2023, 11 am ET

Join CDP, Schroders, and Green Century Capital Management for a conversation on natural capital and biodiversity in the investment process. CDP, which in September announced its intention to align with the Taskforce on Nature-related Financial Disclosures (TNFD), will dive into its work with Green Century Capital Management on identifying companies’ progress towards key performance indicators of deforestation risk assessments and biodiversity disclosure. Schroders continues to prioritize biodiversity in its strategy and has encouraged investors to do the same this year, launching its Plan for Nature this fall to outline their approach to reducing nature risk. The firm will speak on its strategy, the need to address biodiversity through institutional investments, and the ways US and UK asset managers are planning to manage nature-related risks in 2024.

Recording:

View the webinar slide deck

Speakers:

 Monique Ewerton, Senior Associate, Capital Markets, CDP

 Stephanie Williams, Sustainable Investment Analyst, Schroders

 Annie Sanders, Director of Shareholder Advocacy, Green Century Capital Management

This call will feature perspectives from George Suttles, Executive Director at the Commonfund Institute, and Rosalie Sheehy Cates, Senior Advisor at The Giving Practice. Suttles and Sheehy Cates will discuss the ways to inform and empower fiduciaries regarding the evolving nature of fiduciary duty, particularly how it relates to impact and sustainability. Their conversation will build on the resources Suttles and his team have supported at the Commonfund Institute, the efforts of Sheehy Cates with foundation boards and investment committees, and the work of organizations and members within IEN's Investment Governance Initiative around systemic risk and system-level investing. 

If you are interested in joining this Initiative and becoming an IEN Member, please contact Georges Dyer at [email protected].

Recording:

Speakers:

 Rosalie Sheehy Cates, Senior Advisor, The Giving Practice

 George Suttles, Executive Director, the Commonfund Institute

Great news! Early bird registration for the 2024 Higher Education Climate Leadership Summit has been extended until December 15th. This means you still have time to secure your spot and join your peers at this transformative event at discounted rates. Register now!

Also, today is the last day to submit nominations for IEN's Leadership Award. Take a moment to nominate an outstanding leader in sustainable investing, including yourself!

In this week’s news, the Rockefeller Foundation makes a 2050 net zero commitment, the nation’s largest four-year public university system joins IEN, and Mercer releases its Endowment and Foundation Investment Survey 2023.

As we close our offices for the long holiday weekend, we are taking a moment to reflect on the success of the past few months and express our gratitude to the IEN Community for making this work possible. We are also reflecting on the larger context and history of Thanksgiving, and exploring ways our work can help our society move past the extractive system that inflicts harm on marginalized communities and support indigenous sovereignty.

We invite you to join us in our reflections as you observe the holiday and celebrate the many reasons to be thankful.

Students, sustainable investing professionals, and faculty we’re hosting our 2024 Student Corporate Engagement Challenge info sessions on November 14th and  November 16th. We invite you to join us to learn more about the Challenge and how to participate in this program that helps build the next generation of sustainable investors. 

Also, nominations for the Intentional Endowments Network Leadership Award are now open. We call on the IEN community to nominate candidates who work tirelessly to promote environmental justice in the sustainable investing space for recognition.

In this week’s news, indebted businesses are being threatened by climate change, LGIM launches a new ESG fund with an additional pillar, and an appeals court upholds a Nasdaq board diversity requirement. 

Highlights of the 2023 Fall Forum are now available on our website. As we get closer to the holiday, please note that an abbreviated version of our habitual News Round-Up will be sent on Wednesday, November 22nd. Stay ahead of the curve and keep an eye out for our email!

In this week’s news, the fifth National Climate Assessment is released, a real estate group commits $100 million to HBCUs, and JP Morgan raises its targets to reduce financed emissions to align with 2050 net zero targets. 

Join us for conversations that align with your work! We have a rich lineup of learning opportunities in the coming weeks. If you are a JEDI professional, you are invited to explore emerging trends shaping the future of HBCU investments by joining our HBCU Community Roundtable on November 6 at 3 p.m. ET.

In this week’s news, IEN released its Warren Wilson College briefing paper, US students take legal action against six universities for fossil fuel investments, and ISS ESG expands its scoring system to include more on board structure and executive pay.

We were thrilled to have many of you join us at the 2023 Fall Forum yesterday. Thank you to those that were able to make it to Virginia Beach. For those who couldn’t, we’ve added a few photos from the day’s energizing conversations for your viewing!

We also invite you to register for our upcoming JEDI professionals-only Community Roundtable (11/6) to explore emerging trends shaping the future of HBCU investments and our Shareholder Engagement Call scheduled for Nov 8th. 

In this week’s news, The Belonging Collaborative is hosting a webinar on the legal landscape for investing with an equity lens. Robert Gordon University divests from fossil fuels, a report from UN University raises alarm as the world approaches environmental tipping points, and Dartmouth students call on the university to eliminate remaining ties to the fossil fuel industry. 

We’re less than a week away from our 2023 Fall Forum! Preview the Forum’s agenda, speaker lineup, and event logistics as we get ready to connect and be inspired by insightful conversation on October 25! If you haven’t registered and just thought of joining us, you can still secure your spot now!

Also, sign-ups for our 2024 Student Corporate Engagement Challenge are open for student teams interested in competing at the graduate or undergraduate levels. Sign up your team before December 22nd, and register for the November 14 or 16 information session to learn more about the challenge. 

In this week’s news, the Russell Family Foundation announces interim emissions targets, higher education leaders look to build coalitions against anti-DEI action, and California incentivizes community college students to transfer to HBCUs. 

We’re sharing exciting event updates with you this week! We’re running a flash sale on the 2023 Fall Forum to make the event accessible to all. Register before Wednesday, October 18th to get a 10% discount on your registration ticket. Secure your spot today to connect and learn with your peers in Virginia Beach.

IEN and Second Nature are also pleased to offer varying levels of financial support for a limited number of BIPOC attendees to participate in the 2024 Higher Education Climate Leadership Summit. Please review the qualification guidelines carefully and apply before November 1st.

In this week’s news, Impax launches its new Global Opportunities Fund, the Union of Concerned Scientists reviews its work with the State of California to advance climate solutions, and a new guide centers around securing indigenous peoples’ right to self-determination. 

There is still time to register for IEN’s 2023 Fall Forum in Virginia Beach, VA, October 25! A key focus will be addressing how recent political attacks on sustainable investing are relevant to higher education, and how the IEN Network can protect higher education's freedom to consider sustainability metrics when investing. We invite you to preview the agenda and register to join us at Virginia Wesleyan University!

We are also excited to announce that students can now sign up to participate in our 2024 Student Corporate Engagement Challenge! You can learn more about the Challenge, view past winners, and read about mentorship opportunities on our website. 

In this week’s news, Nature Action 100 announces a list of companies investors will engage on biodiversity issues with, Schroders’ Institutional Investor Study reveals the ways investors are shifting energy allocations, and the ICF Climate Center reveals how the US could ready net zero by 2050.

December 12, 2023 | 2 pm ET

The Student Corporate Engagement Challenge, now in its fifth year, asks student teams to pitch an investment in a publicly-traded company, and include in that recommendation a shareholder engagement strategy focused on addressing inequality and the climate crisis. These strategies cover topics including increasing DEI in leadership, addressing supply chain risks, and eliminating workplace harassment.

Participating students will build their professional networks and learning from leaders in the sustainable investing field through mentorship and exclusive workshops. IEN's SIILK Initiative is holding two information sessions for the Challenge, open to students, mentors, judges, and others interested in participating or learning more.

The first of these calls will be on December 14th at 2 pm ET. We hope some of you will be able to join us, and encourage you to share this invite with students/faculty/etc in your Network that may be interested in learning more about the Challenge. As a reminder, the sign-up form is open for student teams until December 22; individuals in the space interested in supporting these student groups can also sign up to mentor.

November 8, 2023 | 1 pm ET

The Shareholder Engagement initiative focuses on supporting colleges and universities in utilizing their power as shareholders to engage portfolio companies across issues related to social justice and the climate crisis. There are several forms of shareholder engagement that endowments can pursue to address material investment risks, improve corporate sustainability performance and support policies that move us toward an equitable, low-carbon, and regenerative economy.

They include proxy voting, engaging in dialogue with mutual funds or companies held in the portfolio, filing or co-filing shareholder resolutions, and signing on to public investor letters or statements. This call featured a presentation from As You Sow's Andrew Behar and Kaylea Noce.

To join this initiative contact Nicole Torrico, Managing Director at [email protected].

There is still time to register for IEN's 2023 Fall Forum taking place October 25 in Virginia Beach. Join us with over 100 higher education stakeholders for an afternoon of impactful conversations on sustainable investing, networking, and relationship building.

In this week’s news, Trinity College commits to divest from fossil fuels by 2030, a federal judge in Texas supports DOL’s ESG rule, and the results from an AGF-commissioned study shows that interest in sustainable investing continues to grow among institutional investors.

Don’t miss the opportunity to learn how to align purpose with profit during next week’s webinar with Bob Bancroft, Mamadou-Abou Sarr, and Rachael Camargo. Register to join us for an engaging conversation and Q&A on impactful and mission-aligned investments. 

In this week’s news, eight HBCUs have joined the Intentional Endowments Network,  the Treasury releases its Net Zero Principles, Generation Investment Management publishes its Sustainability Trends Report, and we share a special announcement.

We’re excited to have Rachael Camargo (MSCI), Bob Bancroft (Nathan Cummings Foundation), and Mamadou-Abou Sarr (V-Square) to speak about Reconciling Funding Programs and Impactful Investment Portfolios on September 26 at 1 pm ET. Register to join us to learn how to leverage partnerships to drive multi-sector and real-world change. Register here!

In this week’s news, NYU commits to divest its $5 billion endowment of fossil fuels, California passes major climate disclosure rules for public and private companies, and AASHE releases its 2023 Sustainable Campus Index.