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As we head into Thanksgiving, we're delighted to bring you the latest updates from our network!
On October 25th, we hosted our Fall Forum at Virginia Wesleyan University. Over 70 higher education leaders and investment professionals gathered to explore sustainable investment topics, including ESG integration, JEDI (Justice, Equity, Diversity & Inclusion), and accessing sustainable retirement plans. At the Forum, we released a briefing paper on Warren Wilson College's shareholder engagement work, highlighting the college's direct engagement and proxy voting work in the 2022-2023 engagement season.
Excitement is building around the 2024 Higher Education Climate Leadership Summit, taking place on February 11-13, 2024, in Long Beach, CA. Register at a discounted rate through the end of the month to secure your spot at this transformative event.
In the past quarter, two New York pension funds have pledged to achieve zero emissions by 2040, the Rockefeller Foundation made a $1 billion commitment to climate finance, and we’ve seen New York University, athe University of Portsmouth, commit to divestment from fossil fuels. You can read more endowment updates ‘In the News’ below.
Lastly, students eager to deepen their sustainable investing knowledge can now sign up to participate in our 2024 Student Corporate Engagement Challenge. Participants in the challenge will gain experiential education and build their professional networks.
We encourage you to take time during the holiday to reflect on indigenous sovereignty and celebrate the many reasons to be grateful.
Have a restful Thanksgiving!
The IEN Team
  
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School Spotlight: Warren Wilson College 2023 Shareholder Engagement Briefing Paper
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In its third season of proactive engagement, Warren Wilson College (WWC) initiated 58 discussions within its investment portfolio, with over 25% resulting in successful agreements. Utilizing As You Vote, As You Sow’s ESG-aligned proxy voting service, WWC cast votes on 1,090 ballot line items at 1,067 companies, influencing crucial decisions, including shareholder-proposed items.
Anthony Rust, Trustee and Chair of the Investment Committee, Warren Wilson College, shared his thoughts on the engagement work conducted by Warren Wilson College:
“Since 2015, Warren Wilson College has taken a very active approach to our endowment fund management. We have seen the positive impact we have had on influencing corporate behavior on issues of importance to the college through the filing of shareholder resolutions, voting our proxies, and aligning with other like-minded shareholders through coalition building, all of which reflect the values we espouse as a college, the goal of helping corporations improve and perform better, and our priority of maximizing returns on a risk-adjusted basis for our endowment fund.”
WWC continues to model how investor engagement with corporations can significantly increase financial performance and compel positive corporate policy and practice changes. Read the Briefing Paper here.
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| Event Spotlight: 2024 Higher Education Climate Leadership Summit |
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Join us at the 2024 Higher Education Climate Leadership Summit on February 11 - 13 in Long Beach, CA, for impactful discussions on net zero portfolios, sustainable retirement plans, and justice, equity, diversity, and inclusion (JEDI).
Join over 300 higher education leaders to participate in insightful conversations on:
- Justice, Equity, Diversity & Inclusion in the Endowment Investment Process
- Net Zero Portfolios
- President and Trustee Program: Exploring New Models for Higher Education's Climate Leadership
- Case Studies on Climate and Equity Endowment Investing Leadership
- Harnessing the Power of Storytelling for Climate Action
Don't miss out on this exciting opportunity to connect with peers, gain knowledge, and take action on your sustainable investment journey.
Early bird registration ends November 30th - register at a discounted rate now to connect and network with peers in Long Beach, CA.
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We were thrilled to have over 70 higher education leaders and investment professionals join us for our Fall Forum on October 25th at Virginia Wesleyan University. Read the summary and view the recordings from the event.
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| Updates From the Field: What Are Endowments, Foundations & Pensions Doing? |
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Over the past year, there have been concerted political efforts to discredit the use of environmental, social, and governance (ESG) information in the investment process. Hundreds of investors and companies have emphasized the importance of prudent investment strategies and smart risk management by signing the Freedom to Invest Statement.
We urge higher education endowments to join their peers and sign the Freedom to Invest statement; you can learn more at www.freedomtoinvest.org
This past quarter, divestment commitments took center stage among endowments driven by student movements, universities' commitment to sustainability leadership, and pressure from peer institutions, highlighting a collective shift towards responsible investing.
California marked a significant milestone by approving a climate disclosure rule impacting about 5,300 companies, mandating transparency in direct and indirect emissions. The Rockefeller Foundation made a $1 billion commitment to climate finance and battery storage systems.
On the Net Zero front, two New York pension funds have pledged to achieve zero emissions by 2040, enlisting a comptroller to develop a comprehensive plan.
Institutions grappling with next steps on their sustainable investing journey can find valuable resources to kickstart the conversation in their respective institutions.
We're here to support you on your sustainable investment journey!
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| Updates from the Network |
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New Member Spotlight: Eight Historically Black Institutions Join the Intentional Endowments Network Membership |
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The Intentional Endowments Network (IEN) proudly announces the expansion of its membership to include eight esteemed Historically Black Institutions: Atlanta University Center Consortium (comprised of Clark Atlanta University, Morehouse College, Morehouse School of Medicine, and Spelman College); Dillard University, Florida Memorial University, Howard University, Johnson C Smith University, Lincoln University, Talladega College, and UNCF (United Negro College Fund). In addition, IEN has initiated a working relationship with UNCF to further our work with HBCUs.
Read the press release here.
New IEN Members
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| Meet Our Fall Interns! |
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Julianna Trimboli (she/her/hers) is a senior at Tufts University, double majoring in Environmental Studies and Anthropology. She is passionate about the intersection of urban life, built environment, and sustainability. Julianna plans to remain in the sustainability field and is interested in corporate ESG.
 Netanya Pereira is a graduate student in the Environmental Science and Public Policy program at Northeastern University and a Chartered Accountant from Mumbai, India (equivalent of CPA). She is passionate about sustainability, particularly the role of corporations in balancing profit generation and creating value for stakeholders through environmental stewardship and social responsibility.
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| Recent Webinars |
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IEN Members can access the following recent webinars through our member-only archive:
- IEN Community Roundtable: Empowering HBCUs and JEDI Champions | November 6, 2023
- Shareholder Engagement Initiative Call Q4 2023 | November 8, 2023
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| Upcoming Events |
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Please join us for our upcoming IEN events:
Other Events
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| Updates from the Crane Institute of Sustainability |
| Endowment Impact Benchmark (EIB) |
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As shared previously, the Crane Institute (IEN’s nonprofit home) was awarded a grant from the Tipping Point Fund for Impact Investing to design and develop a rating and benchmarking system for endowments.
The project has been advancing in exciting ways, with the Crane team, our new Advisory Committee for the EIB, and our project partners at BlueMark designing and refining a questionnaire and scoring rubric to determine ratings. The EIB is currently being piloted by seven endowments, who will provide feedback for further refinement.
In 2024, we plan to expand the initiative to provide ratings to many more endowments. Early feedback has indicated that not only will the rating be a valuable asset for endowments in communicating and recognizing their progress but also that the process of undergoing the evaluation and receiving feedback from the BlueMark team has been extremely helpful to their overall sustainable investing strategies.
Reach out to Georges Dyer at [email protected] to learn more about the EIB.
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| IEN's Focus Areas |
| Sustainable Retirements: ESG Options for Retirement Plans |
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The Sustainable Retirements Initiative was represented at our Fall Forum last month by Melissa Platner from Impax Asset Management, who hosted a table on "Retirement Readiness: Sustainability as a Catalyst to Close the Retirement Gap and Drive Participant Engagement." As more founding signatories of our Sustainable Retirement Plans Pledge begin to report back on their findings, we encourage other endowments to become signatories of the Pledge as a commitment to review their retirement plans for options that consider ESG factors, reduce risk, protect capital, and enhance financial returns.
We also look forward to highlighting sustainable retirements at the 2024 Higher Education Climate Leadership Summit. We will focus on both the plan provider and plan participant perspectives through panels and next-level conversation tables. We hope you can join us on February 11-13 in Long Beach, CA.
Join our retirement listserv for updates on the Sustainable Retirements Initiative.
Lead Sponsors
Supporting Sponsors
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| SIILK (Sustainable & Impact Investing Learning & Knowledge) Network |
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We are excited to share that students can now sign up for our 2024 Student Corporate Engagement Challenge, which asks students 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.
Interested students and faculty can learn more on our website, join our upcoming info sessions on December 12 and 14, and sign up for a participating team here by December 22nd.
We have also recently connected with several student funds and consortiums. Highlights this quarter include:
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Student Impact Fund Collaborative: Led this year by Columbia and Booth students, the focus connecting graduate-level impact funds and exploring hosting an in-person convening this spring,
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Northwestern University Kellogg School of Management: Developing an impact investing fund for MBA students,
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UNC Kenan Flagler: Developing an impact-investing student fund, building off of the business school’s impact-investing club,
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Brigham Young University: Developing its Impact Investing Association into a pilot course for University Impact.
If interested in participating in the Challenge, connecting with the above institutions or consortiums, or learning more about SIILK, contact Bella Alvarez at [email protected].
Supporting Sponsor:
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| Net Zero Endowments |
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IEN’s Net Zero Endowment Initiative continues to thrive with lively, action-oriented engagement. Our last Net Zero Initiative Call on September 28th featured presentations from Pedro Henriques da Silva (Director of the Sierra Club Foundation’s Shifting Trillions initiative) & Edward Micklem (Vice President and Head of Strategic Partnerships at Tumelo). Pedro presented how to create a regenerative and just world through sustainable investing practices that integrate climate justice, shifting trillions by shifting mindsets. Edward delved into pass-through voting and the power of shareholder democracy, discussing various important implications and impacts of proxy voting. A recording of the call can be found here.
We invite IEN Members to register for our last Net Zero Initiative Call of the year and to learn more about net zero commitments from endowments.
Lead sponsors
Supporting Sponsors
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| Justice, Equity, Diversity, and Inclusion (JEDI) |
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This quarter, we expanded our collaboration with Historically Black Colleges and Universities (HBCUs), achieving remarkable progress with the inclusion of eight new HBCU institutions into the IEN membership.
A significant highlight was the HBCU luncheon held during the 2023 IEN Fall Forum, where discussions centered on aligning sustainability efforts with institutional missions. This event facilitated meaningful exchanges, and participants shared challenges and best practices, learning from peer institutions. We also hosted a community roundtable for HBCUs and JEDI champions, exploring emerging trends influencing HBCU investments and addressing the unique needs of these institutions.
IEN attended key conferences over the last few months, including the 9th Annual HBCU Climate Change Conference, UNITE, IDAC, the Congregational Black Caucus Annual Legislative Conference in Washington, DC, and the White House Initiative on HBCUs. This concerted effort reflects our ongoing commitment to fostering justice, equity, diversity, and inclusion within the IEN community.
Learn more about the JEDI Initiative.
Supported by Prime Buchholz and Crewcial Partners
Lead Sponsors
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| Investment Governance Working Group |
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In September, we hosted an Investment Governance Community Conversation featuring Jon Lukomnik, a pioneer of modern corporate governance, Founder of Sinclair Capital, and Trustee of the Van Eck Family of US mutual funds, insurance trusts, and European UCITs.
Jon spoke about his pioneering work on systems-level investing strategies and how systemic risks like climate change and extreme inequality put capital at risk, particularly for diversified institutional investors and ‘universal owners.’
The Investment Governance initiative will continue to explore the challenges and solutions related to system-level investing, drawing on expertise from individuals and partners like Jon, the team at The Investment Integration Project (TIIP), the Sustainable Investing Research Initiative (SIRI) at Columbia University, and others.
We will also be working with members of the Investment Governance Leadership Group to continue to explore the evolving norms and regulations around fiduciary duty in the 21st century in the coming months.
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| Shareholder Engagement |
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Last month, we released a briefing paper on Warren Wilson College's (WWC) shareholder engagement work, highlighting the College's direct engagement and proxy voting work in the 2022-2023 engagement season. We’re pleased to be continuing our work supporting WWC in the current engagement season.
We also held a Shareholder Engagement Initiative call, where Andy Behar, CEO of As You Sow, presented on the ESG-aligned proxy voting service As You Vote.
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| Featured Resources |
| Resources from IEN |
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| Other Resources from the Field |
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