Perspectives on DOL Field Assitance Bulletin
By: Keith L. Johnson, Heads of Institutional Investor Legal Services, Reinhart Boerner Van Deuren s.c., Member of the IEN Executive Committee, and Chair of the IEN Fiduciary Duty & Policy Working Group April 27, 2018 Investor fiduciaries should be careful not to overreact to Employee Retirement Income Security Act (ERISA) Field Assistance Bulletin 2018-01 on the exercise of shareholder rights and consideration of Environmental, Social and Governance (ESG) factors, which was issued by the Department of Labor (DOL) on April 23, 2018.[1] Some are reading it as backtracking on assurance about consideration of material ESG factors and related company engagement practices contained in interpretive bulletins that were issued in 2015 and 2016. Tone of the Bulletin is definitely harsher....
Intentionally Designed Endowment Case Studies and Article...
This March The Intentional Endowments Network published an article on 'Investing With Purpose' as well as two institution case studies: 'A Cooperative Path Toward Divestment' featuring IEN Member Lewis & Clark College, and 'Matching Investments to Mission' featuring IEN Member Becker College. This article and case studies show that smaller institutions are equally equipped to assume a more intentional investment strategy that aligns with institution mission and values. And, they prove that active engagement with stakeholders across the entire campus can help expedite the time required to move boldly in this direction. Follow the links below to read each article. Investing With Purpose l By: Anthony Cortese, Co-Founder and Principal, Intentional Endowments Network A Cooperative Path Toward Divestment l By: Carl Vance, CIO, Lewis and...
Perspectives on the 2018 Higher Education Climate Leaders...
By: Anthony Cortese, Co-Founder and Principal of the Intentional Endowments Network, Georges Dyer, Co-Founder and Principal of the Intentional Endowments Network and Tim Carter, President, Second Nature Second Nature and the Intentional Endowments Network (IEN) held the 2018 Higher Education Climate Leadership Summit February 4-6 in Tempe, Arizona. It was the year’s largest gathering of higher education presidents, chancellors, trustees, and other senior leaders committed to accelerating climate solutions with over 275 participants. It came at a critical time as society deals with the ongoing and worsening impacts of climate disruption. Working together with business, state and local leaders, the higher education sector can and must shape the future of America’s global climate leadership. After the U.S. Administration’s announcement to withdraw from the international Paris...
Intentionally Designed Endowments in 2017
As we reflect on 2017, we are again overcome with a profound sense of hope and gratitude; gratitude for all of the support and engagement from participants in the Intentional Endowments Network, and hope for accelerating progress toward the tipping point for a sustainable future. When we talk about hope, we often quote author and Oberlin professor, David Orr who is fond of pointing out that “hope is a verb with its sleeves rolled up.” Recently our newest team member at Crane, Kristian Nammack introduced us to a similar observation on hope from author Rebecca Solnit: “Hope is not a lottery ticket you sit on the sofa and clutch. Hope is an axe you use to break down doors in...
Crane Board Chair, Natasha Lamb, Named one of 2017's Top ...
Natasha Lamb, Chair of the Board of The Crane Institute of Sustainability -- the 501(c)(3) non-profit organization that is home to the Intentional Endowments Network -- has been named one of 2017's Top 50 Most Influential People by Bloomberg Businessweek. Visit the Bloomberg Top 50 to read more about this honor and watch a video featuring Natasha and the other changemakers helping to shape our society. Natasha is a Managing Partner at Arjuna Capital and has served as Chair of the Board of Crane since its inception. Her shareholder activism work has covered critical business issues ranging from climate risk to gender pay equity to fake news, and has focused on ensuring that companies are taking a long view and...
IEN Publishes Hampshire College Case Study
We are pleased to share our new case study on Hampshire College’s journey in considering social responsibility, sustainability, and institutional mission in its endowment investing. As many schools and nonprofits grapple with these issues, or face scrutiny from stakeholders, this case study offers details on how Hampshire College undertook ESG criteria and aligning with mission. Read the press release outlining the report, and access the full report here.
'The Intentionally Designed Endowment' Published in Trust...
Written by IEN Executive Committee member, David Dinerman (Hampshire College), Tony Cortese (Green Mountain College, IEN), and Georges Dyer (IEN), this piece highlights the importance and trends of aligning endowment investing with the mission and goals of higher education institutions and considering material ESG factors. It explores some of the challenges and opportunities of doing so, provides some evidence of the benefits and ideas on how to institutionalize such investing, and helps trustees learn about the peer learning opportunities through IEN. Read the full article here, as published in Trusteeship Magazine.
Sustainable Investing at the University System of Marylan...
University System of Maryland (USM) students have been driving change at The USM Foundation for several years. In 2013, students circulated a petition to divest from fossil fuels with nearly 600 signatures from students at Towson University, the University of Maryland, Baltimore County and other colleges. In response, in 2014, along with the United Nations, the USM Foundation was a seed investor in the iShares MSCI ACWI Low Carbon Target ETF.The ETF tracks the results of the MSCI ACWI Low Carbon Target Index and addresses two dimensions of carbon exposure – carbon emissions and fossil fuel reserves. The fund was designed for individuals and institutions interested in environmental sustainability without divestment and provides transparency to the carbon footprint of their...
ESG Investing Trends: Common Approaches and Benchmarking
In this Q&A, Thomas Kuh and Paul Schutzman, Executive Directors at MSCI, discuss the significant ESG trends and developments that we should be aware of in 2017, some of the ESG concerns, demands and questions they hear most frequently from asset owners in the US, and what first steps institutions that are grappling with how to approach ESG can take. Thomas Kuh Paul Schutzman Executive Director, MSCI Executive Director, MSCI 1. Can you please explain your roles...
The Future of Investing is Impact Investing
(Originally posted on the U.S. Impact Investing Alliance website, available here. The Intentional Endowments Network is proud to sit on the Alliance's 8-member Industry Advisory Council of leading impact investing network organizations. Together the organizations on the Council represent over 800 members representing trillions of dollars of assets under management.) By: Darren Walker, President, Ford Foundation and Chair, U.S. Impact Investing Alliance Fran Seegull, Executive Director, U.S. Impact Investing Alliance The United Nations estimates that achieving its 17 Sustainable Development Goals by 2030 will require trillions of dollars. The global goals aren’t the only way to measure our challenges, but they do paint a clear picture: given the scale of the problems the world faces, it’s clear that traditional sources of capital, like government aid and philanthropy,...
The Future of Investing is Impact Investing
(Originally posted on the U.S. Impact Investing Alliance website, available here. The Intentional Endowments Network is proud to sit on the Alliance's 8-member Industry Advisory Council of leading impact investing network organizations. Together the organizations on the Council represent over 800 members representing trillions of dollars of assets under management.) By: Darren Walker, President, Ford Foundation and Chair, U.S. Impact Investing Alliance Fran Seegull, Executive Director, U.S. Impact Investing Alliance The United Nations estimates that achieving its 17 Sustainable Development Goals by 2030 will require trillions of dollars. The global goals aren’t the only way to measure our challenges, but they do paint a clear picture: given the scale of the problems the world faces, it’s clear that traditional sources of capital, like government aid and philanthropy,...
ESG Investing Trends: Common Approaches and Benchmarking
In this Q&A, Thomas Kuh and Paul Schutzman, Executive Directors at MSCI, discuss the significant ESG trends and developments that we should be aware of in 2017, some of the ESG concerns, demands and questions they hear most frequently from asset owners in the US, and what first steps institutions that are grappling with how to approach ESG can take. Thomas Kuh Paul Schutzman Executive Director, MSCI Executive Director, MSCI 1. Can you please explain your roles...
Sustainable Investing at the University System of Marylan...
University System of Maryland (USM) students have been driving change at The USM Foundation for several years. In 2013, students circulated a petition to divest from fossil fuels with nearly 600 signatures from students at Towson University, the University of Maryland, Baltimore County and other colleges. In response, in 2014, along with the United Nations, the USM Foundation was a seed investor in the iShares MSCI ACWI Low Carbon Target ETF.The ETF tracks the results of the MSCI ACWI Low Carbon Target Index and addresses two dimensions of carbon exposure – carbon emissions and fossil fuel reserves. The fund was designed for individuals and institutions interested in environmental sustainability without divestment and provides transparency to the carbon footprint of their...
'The Intentionally Designed Endowment' Published in Trust...
Written by IEN Executive Committee member, David Dinerman (Hampshire College), Tony Cortese (Green Mountain College, IEN), and Georges Dyer (IEN), this piece highlights the importance and trends of aligning endowment investing with the mission and goals of higher education institutions and considering material ESG factors. It explores some of the challenges and opportunities of doing so, provides some evidence of the benefits and ideas on how to institutionalize such investing, and helps trustees learn about the peer learning opportunities through IEN. Read the full article here, as published in Trusteeship Magazine.
IEN Publishes Hampshire College Case Study
We are pleased to share our new case study on Hampshire College’s journey in considering social responsibility, sustainability, and institutional mission in its endowment investing. As many schools and nonprofits grapple with these issues, or face scrutiny from stakeholders, this case study offers details on how Hampshire College undertook ESG criteria and aligning with mission. Read the press release outlining the report, and access the full report here.
Crane Board Chair, Natasha Lamb, Named one of 2017's Top ...
Natasha Lamb, Chair of the Board of The Crane Institute of Sustainability -- the 501(c)(3) non-profit organization that is home to the Intentional Endowments Network -- has been named one of 2017's Top 50 Most Influential People by Bloomberg Businessweek. Visit the Bloomberg Top 50 to read more about this honor and watch a video featuring Natasha and the other changemakers helping to shape our society. Natasha is a Managing Partner at Arjuna Capital and has served as Chair of the Board of Crane since its inception. Her shareholder activism work has covered critical business issues ranging from climate risk to gender pay equity to fake news, and has focused on ensuring that companies are taking a long view and...
Intentionally Designed Endowments in 2017
As we reflect on 2017, we are again overcome with a profound sense of hope and gratitude; gratitude for all of the support and engagement from participants in the Intentional Endowments Network, and hope for accelerating progress toward the tipping point for a sustainable future. When we talk about hope, we often quote author and Oberlin professor, David Orr who is fond of pointing out that “hope is a verb with its sleeves rolled up.” Recently our newest team member at Crane, Kristian Nammack introduced us to a similar observation on hope from author Rebecca Solnit: “Hope is not a lottery ticket you sit on the sofa and clutch. Hope is an axe you use to break down doors in...
Perspectives on the 2018 Higher Education Climate Leaders...
By: Anthony Cortese, Co-Founder and Principal of the Intentional Endowments Network, Georges Dyer, Co-Founder and Principal of the Intentional Endowments Network and Tim Carter, President, Second Nature Second Nature and the Intentional Endowments Network (IEN) held the 2018 Higher Education Climate Leadership Summit February 4-6 in Tempe, Arizona. It was the year’s largest gathering of higher education presidents, chancellors, trustees, and other senior leaders committed to accelerating climate solutions with over 275 participants. It came at a critical time as society deals with the ongoing and worsening impacts of climate disruption. Working together with business, state and local leaders, the higher education sector can and must shape the future of America’s global climate leadership. After the U.S. Administration’s announcement to withdraw from the international Paris...
Intentionally Designed Endowment Case Studies and Article...
This March The Intentional Endowments Network published an article on 'Investing With Purpose' as well as two institution case studies: 'A Cooperative Path Toward Divestment' featuring IEN Member Lewis & Clark College, and 'Matching Investments to Mission' featuring IEN Member Becker College. This article and case studies show that smaller institutions are equally equipped to assume a more intentional investment strategy that aligns with institution mission and values. And, they prove that active engagement with stakeholders across the entire campus can help expedite the time required to move boldly in this direction. Follow the links below to read each article. Investing With Purpose l By: Anthony Cortese, Co-Founder and Principal, Intentional Endowments Network A Cooperative Path Toward Divestment l By: Carl Vance, CIO, Lewis and...
Perspectives on DOL Field Assitance Bulletin
By: Keith L. Johnson, Heads of Institutional Investor Legal Services, Reinhart Boerner Van Deuren s.c., Member of the IEN Executive Committee, and Chair of the IEN Fiduciary Duty & Policy Working Group April 27, 2018 Investor fiduciaries should be careful not to overreact to Employee Retirement Income Security Act (ERISA) Field Assistance Bulletin 2018-01 on the exercise of shareholder rights and consideration of Environmental, Social and Governance (ESG) factors, which was issued by the Department of Labor (DOL) on April 23, 2018.[1] Some are reading it as backtracking on assurance about consideration of material ESG factors and related company engagement practices contained in interpretive bulletins that were issued in 2015 and 2016. Tone of the Bulletin is definitely harsher....
'The Intentionally Designed Endowment' Published in Trust...
Written by IEN Executive Committee member, David Dinerman (Hampshire College), Tony Cortese (Green Mountain College, IEN), and Georges Dyer (IEN), this piece highlights the importance and trends of aligning endowment investing with the mission and goals of higher education institutions and considering material ESG factors. It explores some of the challenges and opportunities of doing so, provides some evidence of the benefits and ideas on how to institutionalize such investing, and helps trustees learn about the peer learning opportunities through IEN. Read the full article here, as published in Trusteeship Magazine.
Crane Board Chair, Natasha Lamb, Named one of 2017's Top ...
Natasha Lamb, Chair of the Board of The Crane Institute of Sustainability -- the 501(c)(3) non-profit organization that is home to the Intentional Endowments Network -- has been named one of 2017's Top 50 Most Influential People by Bloomberg Businessweek. Visit the Bloomberg Top 50 to read more about this honor and watch a video featuring Natasha and the other changemakers helping to shape our society. Natasha is a Managing Partner at Arjuna Capital and has served as Chair of the Board of Crane since its inception. Her shareholder activism work has covered critical business issues ranging from climate risk to gender pay equity to fake news, and has focused on ensuring that companies are taking a long view and...
ESG Investing Trends: Common Approaches and Benchmarking
In this Q&A, Thomas Kuh and Paul Schutzman, Executive Directors at MSCI, discuss the significant ESG trends and developments that we should be aware of in 2017, some of the ESG concerns, demands and questions they hear most frequently from asset owners in the US, and what first steps institutions that are grappling with how to approach ESG can take. Thomas Kuh Paul Schutzman Executive Director, MSCI Executive Director, MSCI 1. Can you please explain your roles...
IEN Publishes Hampshire College Case Study
We are pleased to share our new case study on Hampshire College’s journey in considering social responsibility, sustainability, and institutional mission in its endowment investing. As many schools and nonprofits grapple with these issues, or face scrutiny from stakeholders, this case study offers details on how Hampshire College undertook ESG criteria and aligning with mission. Read the press release outlining the report, and access the full report here.
Intentionally Designed Endowment Case Studies and Article...
This March The Intentional Endowments Network published an article on 'Investing With Purpose' as well as two institution case studies: 'A Cooperative Path Toward Divestment' featuring IEN Member Lewis & Clark College, and 'Matching Investments to Mission' featuring IEN Member Becker College. This article and case studies show that smaller institutions are equally equipped to assume a more intentional investment strategy that aligns with institution mission and values. And, they prove that active engagement with stakeholders across the entire campus can help expedite the time required to move boldly in this direction. Follow the links below to read each article. Investing With Purpose l By: Anthony Cortese, Co-Founder and Principal, Intentional Endowments Network A Cooperative Path Toward Divestment l By: Carl Vance, CIO, Lewis and...
Intentionally Designed Endowments in 2017
As we reflect on 2017, we are again overcome with a profound sense of hope and gratitude; gratitude for all of the support and engagement from participants in the Intentional Endowments Network, and hope for accelerating progress toward the tipping point for a sustainable future. When we talk about hope, we often quote author and Oberlin professor, David Orr who is fond of pointing out that “hope is a verb with its sleeves rolled up.” Recently our newest team member at Crane, Kristian Nammack introduced us to a similar observation on hope from author Rebecca Solnit: “Hope is not a lottery ticket you sit on the sofa and clutch. Hope is an axe you use to break down doors in...
Perspectives on DOL Field Assitance Bulletin
By: Keith L. Johnson, Heads of Institutional Investor Legal Services, Reinhart Boerner Van Deuren s.c., Member of the IEN Executive Committee, and Chair of the IEN Fiduciary Duty & Policy Working Group April 27, 2018 Investor fiduciaries should be careful not to overreact to Employee Retirement Income Security Act (ERISA) Field Assistance Bulletin 2018-01 on the exercise of shareholder rights and consideration of Environmental, Social and Governance (ESG) factors, which was issued by the Department of Labor (DOL) on April 23, 2018.[1] Some are reading it as backtracking on assurance about consideration of material ESG factors and related company engagement practices contained in interpretive bulletins that were issued in 2015 and 2016. Tone of the Bulletin is definitely harsher....
Perspectives on the 2018 Higher Education Climate Leaders...
By: Anthony Cortese, Co-Founder and Principal of the Intentional Endowments Network, Georges Dyer, Co-Founder and Principal of the Intentional Endowments Network and Tim Carter, President, Second Nature Second Nature and the Intentional Endowments Network (IEN) held the 2018 Higher Education Climate Leadership Summit February 4-6 in Tempe, Arizona. It was the year’s largest gathering of higher education presidents, chancellors, trustees, and other senior leaders committed to accelerating climate solutions with over 275 participants. It came at a critical time as society deals with the ongoing and worsening impacts of climate disruption. Working together with business, state and local leaders, the higher education sector can and must shape the future of America’s global climate leadership. After the U.S. Administration’s announcement to withdraw from the international Paris...
Sustainable Investing at the University System of Marylan...
University System of Maryland (USM) students have been driving change at The USM Foundation for several years. In 2013, students circulated a petition to divest from fossil fuels with nearly 600 signatures from students at Towson University, the University of Maryland, Baltimore County and other colleges. In response, in 2014, along with the United Nations, the USM Foundation was a seed investor in the iShares MSCI ACWI Low Carbon Target ETF.The ETF tracks the results of the MSCI ACWI Low Carbon Target Index and addresses two dimensions of carbon exposure – carbon emissions and fossil fuel reserves. The fund was designed for individuals and institutions interested in environmental sustainability without divestment and provides transparency to the carbon footprint of their...
The Future of Investing is Impact Investing
(Originally posted on the U.S. Impact Investing Alliance website, available here. The Intentional Endowments Network is proud to sit on the Alliance's 8-member Industry Advisory Council of leading impact investing network organizations. Together the organizations on the Council represent over 800 members representing trillions of dollars of assets under management.) By: Darren Walker, President, Ford Foundation and Chair, U.S. Impact Investing Alliance Fran Seegull, Executive Director, U.S. Impact Investing Alliance The United Nations estimates that achieving its 17 Sustainable Development Goals by 2030 will require trillions of dollars. The global goals aren’t the only way to measure our challenges, but they do paint a clear picture: given the scale of the problems the world faces, it’s clear that traditional sources of capital, like government aid and philanthropy,...