In our Summer edition of the IEN newsletter, we recap a busy season as campuses closed the 2018-2019 academic year with exciting progress toward aligning investments with institutional mission. We spent time together in Philadelphia, PA, New Haven, CT, Durham, NC, and Boston, MA to explore the new Intentionally Designed Endowment Roadmap built from members’ experiences.
With a new academic year at hand, the network is gearing up for a meeting in Berkeley to tackle the question “What does community impact mean for our investments?” and making plans to gather in Atlanta in February for the 2020 Higher Ed Climate Leadership Summit!
We’re also pleased to launch two new initiatives: a multimedia series celebrating intentional endowment leaders, starting with this story of the University of New Hampshire’s sustainable investing journey, and a project on Integrating ESG into Retirement Plans. Our work with student-managed investment funds through the SIILK Network also continues to grow in exciting ways and was recently highlighted in the Financial Times.
The IEN Team
2020 Higher Ed Climate Leadership Summit - Registration Launched and Keynotes Announced
Register now for the premier gathering of higher education leaders driving responses to the climate crisis - with early bird rates available now for all participants! Join us to work with other leaders on solutions to the climate crisis, including the first two keynote speakers just announced: Gina McCarthy, former EPA Administrator, Director of the Center for Climate Health and the Global Environment, and Professor, Harvard T.H. Chan School of Public Health; and Varshini Prakash, Executive Director and Co-Founder, Sunrise.
Help us develop the agenda by submitting a session proposal. Mark your calendar to attend the Intentionally Designed Endowment Forum on February 25th, a 5-hour dedicated track of sessions on aligning investments with sustainability goals. Contact us to learn more about high-visibility partnership opportunities at the Summit!
Q&A Article: Wielding Alternative Debt Towards a Resilient Future
Opportunities within private debt impact investment strategies continue to attract greenbacks. For example, the Global Impact Investing Network’s 2019 Annual Impact Survey indicated that private debt and private equity investors expected to increase the amount of capital they invest in 2019 (versus last year) by 36% and 22% respectively. The survey’s 266 respondents collectively represented more than $239 billion of investment dollars, of which $35 billion was allocated to impact investments in 2018. Further, last year, over a third of the impact capital was poured into private debt strategies; in comparison, public debt and private equity respectively accounted for about 16% and 14% of the capital invested respectively.
Given the interest in private debt impact strategies, the Intentional Endowments Network approached industry specialists on their perspective on the current climate of the private debt market and where environmental, social, and governance (ESG) factors fit in this landscape.
Read the full Q&A article here.
The experts included:
|Nicole Downer, Managing Partner, MV Credit Partners, Affiliate of Natixis with $5.3 billion in AUM|
Helene Barikmo, Member of the Deal Team, MV Credit Partners, Affiliate of Natixis with $5.3 billion in AUM
Ken Kunhardt, Director of Investor Relations, New Hampshire Community Loan Fund
Additional Updates from the Network
New IEN Members
We are pleased to welcome Calvert Research and Management, Heifer Foundation, William Boardman, Bethune-Cookman University, AGF, Mobius Capital Partners, Dana Investment Advisors, Spouting Rock Asset Management, and AiiM Partners to the Network!
To learn more about the leadership opportunities and benefits of IEN membership, click here.
IEN Thanks Summer Interns
This summer the team supporting IEN members to advance the field of sustainable investing included our 2019 SIILK Fellow Alicia Sidik, who scaled up to full-time work for the summer, as well as summer interns Megan Ahern, Inah Choe, and Haleigh Copley-Cunningham. Thank you all, from the whole network!
IEN Members Gather at Peer Learning Events Around the Country
- Read about and/or watch a panel discussion that IEN hosted with WISE (Women Investing for a Sustainable Economy), and the MIT Impact Investing Initiative: An Introduction to The IEN Roadmap & How The University of New Hampshire Intentionally Invests
- IEN members and staff also participated in the US SIF Conference and Confluence Advisors Forum & Climate Solutions Summit and Good Capital’s Total Impact Philadelphia convening to connect endowment fiduciaries with the cutting edge of sustainable investing
In the past few months, IEN has hosted the following webinars. Follow the links to view recordings of each:
- Integrating ESG Options into Higher Ed Retirement Plans
- University of Toronto Asset Management Corporation - Applying an ESG Lens to Our Investment Decisions
- Building a Just Transition - Investing in Infrastructure that Supports People and Planet
- Future-Fit Investment Strategies
And register now for our next webinar on September 4th, exploring the new Operating Principles for Impact Investing with the IFC’s Chief Thought Leadership Officer.
Online Peer Networking
In our second Community Online Conversation, IEN members discussed the OCIO endowment management model in a session facilitated by Ball State University Foundation’s Chief Investment Officer Tom Heck. The conversation brought out insights on developing effective partnerships between providers and client institutions, challenges with impact measurement, as well as evaluation criteria for hiring investment consultants with deep expertise in mission-aligned investing. Stay tuned for upcoming community conversations, and please share ideas for educational topics with our Membership Manager Erina McWilliam-Lopez at [email protected].
SIILK (Sustainable & Impact Investing Learning and Knowledge) Network
If you are interested in connecting with stakeholders to share best practices and advance the development of sustainably invested student-managed funds and sustainable finance curriculum, please reach out to Nicole at [email protected].
IEN Working Groups meet regularly to advance key strategies in support of the network's goals. Below is a brief update of what current Working Groups have accomplished.
- Diversity, Equity, and Inclusion Working Group: If you are interested in participating in this group, please reach out to Kaede at [email protected].
- Gender Lens Investing Working Group: If you are passionate about increasing the number of higher education endowments investing with a gender lens, please reach out to Nicole at [email protected] for more information, and to join our next call.
- Fiduciary Duty & Policy: The Fiduciary Duty & Policy group, after contributing many resources to the Network both individually and jointly, is turning its focus to developing the field of trustees and helping to build their skills to be an effective fiduciary in the 21st century. If you are interested in participating in this group, please reach out to Alice at [email protected].
- Shareholder Engagement: 2019 has been a record-breaking year for shareholder engagement as institutional investors are finding the case for being actively engaged with the companies they own increasingly compelling in the light of climate change, social inequality and political ineffectiveness. Colleges and universities are beginning to find ways around their two biggest challenges to being active shareholders: (1) limited time and people resources devoted to investing the endowment and (2) investment through commingled funds. Our Shareholder Engagement Working Group will be gathering by phone in September to help colleges and universities meet these challenges. Please reach out to Alice at [email protected] if you are interested in participating in this group.
- Trustee Peer Group: The trustee peer group has been sharing insights on the governance and implementation processes for sustainable investing by endowments, and connecting with peers on other Boards that are undertaking these processes. The group has been supporting efforts to connect with AGB’s new president about supporting their members on these topics. It has also been helping with the design of the 2020 Summit. If you are a trustee and interested in participating in this group, please reach out to Georges at [email protected].
- Support the next generation of sustainable investors: the SIILK Network is growing! Contact Nicole to learn more about sponsorship opportunities to support this evolving group.
- Become a Sponsor of the 2020 Higher Education Climate Leadership Summit (Atlanta, GA, February 23-25, 2020)
- Join a working group on Integrating ESG Options into Higher Ed Retirement Plans
- Join the Shareholder Engagement Working Group
IEN Webinar: Beyond ESG, Towards Impact & the SDGs | Intentional Endowments Network, September 4, 2019, 1-2pm EDT (webinar)
ESG & Community Impact Investing Roundtable 2019| Intentional Endowments Network, September 6, 2019, Berkeley, CA
2020 Higher Education Climate Leadership Summit| Intentional Endowments Network and Second Nature, February 23-25, 2020, Atlanta, GA.
- Seeing SRI in Context: Emerging Strategies for Socially Responsible Investing in College Endowments | NACUBO, September 4, 2019 1:00-2:15pm ET (webinar with registration fee)
- Faith-based Impact Investing: Growing the Field | GIIN, September 4, 2019 10 - 11am EDT (webinar)
2019 Family Office Impact Summit | United Nations, September 5, 2019, New York, NY.
- Family office members of IEN are eligible for discounted registration.
- Getting Gender Smart: Impact Investing with a Gender Lens | Duke Fuqua School of Business, September 9-11, 2019, Durham, North Carolina
- It’s About Time: A Call to Advance Racial Equity in the Investment Industry | Confluence Philanthropy, September 10, 2019 9:30-10:30am PT / 12:30-1:30 ET (webinar - open to members of Confluence Philanthropy, as well as non-member grant-makers and values investors)
Total Impact Family Office and Foundation Conference | ACG New York, Alberleen Family Office Solutions, and Good Capital Project, September 10, 2019, New York, NY.
- This event is intended for asset owners, including higher education endowments and foundations; agenda themes include Climate change mitigation and resource efficiency; Healthcare; Housing and infrastructure; Sustainable agriculture; and Investing in women. For an invitation to the event, please reach out to IEN.
- Financing the Future: The Global Climate Divest-Invest Summit | Divest Invest, Fossil Free SA, Global Catholic Climate Movement, GreenFaith, PACJA, Shine, Wallace Global Fund, and 350, September 10-11, 2019, Cape Town, South Africa
Impact Investing: Driving Social Purpose Through Measurable Investment Returns | Skytop Strategies, September 17, 2019, Boston, MA.
- Interested members should contact [email protected] to access a 15% off registration IEN Member discount code.
- Sustainable Investment Forum North America 2019 | UN Environment Programme Finance Initiative, September 25, 2019, New York, NY (Climate Week)
Regenerative Food Systems Investment Forum | RFSI Forum, September 30-October 1, 2019, Oakland, CA
- Interested members should contact [email protected] to access a 15% off registration IEN Member discount code.
- Business, Investments & the SDGs: A Powerful Opportunity for Shared Prosperity | University of New Hampshire, October 1, 2019, 12:40-2pm, Durham, NH
GIIN Investor Forum | GIIN, October 2-3, 2019, Amsterdam, Netherlands.
- Interested members should contact [email protected] to access a 10% off registration IEN Member discount code.
- Color of Education Summit | Public School Forum of NC, The Samuel DuBois Cook Center on Social Equity, and Policy Bridge at Duke University’s Sanford School of Public Policy, October 26, 2019, Raleigh, NC
- 2019 AASHE Conference & Expo: Co-Creating a Sustainable Economy | AASHE, October 27-30, 2019, Spokane, WA
- 21st Annual Endowment and Foundation Forum | Opal, November 7-8, 2019, Boston, MA
2nd Impact Summit America | Phenix Capital, November 14, 2019, New York, NY.
- Asset owner IEN members are eligible for complementary registration.
- GreenBiz 20 | GreenBiz, February 4-6, 2020, Phoenix, AZ
- Croatan Forum 2020 | Croatan Institute, April 27-29, 2020, Durham, NC
To view more upcoming events, click here.
Below are some recent resources from the Intentional Endowments Network and other organizations. To see more reports, articles, videos and other resources by topic, visit the resource page on our website.
Resources from IEN:
- Intentionally Designed Endowment Roadmap l The Intentional Endowments Network
- Look back at the 2019 Higher Education Climate Leadership Summit Report
- 2018 Impact Report l The Intentional Endowments Network
- Sustainable Campus Index 2019 | AASHE
- Moving Forward with Sustainable Investing: A Roadmap for Asset Owners | US SIF Foundation
- 2019 Annual Impact Investor Survey | Global Impact Investing Network
- Cornerstone Capital Group Publishes New Report on Investing for LGBTQI and Gender Equity | PR Newswire
- Anchor Collaboratives: Building Bridges With Place-Based Partnerships and Anchor Institutions | Democracy Collaborative
- How to Invest in the Low-carbon Economy | Principles for Responsible Investment
- Place-Based Impact Investing Practitioner Briefs | Urban Institute and Mission Investors Exchange
- Global Investor Statement to Governments on Climate Change | The Investor Agenda
- Aligning Retirement Assets Toolkit #2 | World Business Council on Sustainable Development
- Task Force on Climate-Related Financial Disclosures (TCFD) Implementation Guide | Climate Disclosure Standards Board (CDSB) and the Sustainability Accounting Standards Board (SASB)
- IRIS+ | Global Impact Investing Network
- Internal Carbon Pricing in Higher Education Toolkit | Second Nature
- Internal Carbon Pricing For Low-carbon Finance | Generation Foundation, Navigant, and CDP
In the News
Below is a sampling of recent news articles we've posted in our Weekly News Round-Up, ranging in topics from Sustainable, Impact and ESG Investing, Climate Risk, Science & Regulation, Sustainability in Higher Education, Divestment, Clean Energy, and more. To receive news updates directly in your inbox, manage your mailing preferences here.
IEN in the News:
- The MBA Students Gaining Practical Investment Management Experience | Financial Times
- (Listen) Sustainable Investing and Divestment | Campus Energy Podcast
- Developing Community Feedback Tools to Help Investors Manage Positive – and Negative – Impact | ImpactAlpha
- Higher and Further Education Institutions Across the Globe Declare Climate Emergency | United Nations Environment Programme
- Impact Update: Integrating ESG Factors into Endowment Investing| IEN Blog
- Takeaways from the Pro's: Panel Explores University of New Hampshire's Journey to Sustainable Investing | IEN Blog
- Student Conference for Corporate Responsibility - Reflections & Next Steps | IEN Blog
- IEN’s Roundtable at Total Impact Philadelphia Offers a Framework for Creating Intentionally Designed Endowments | IEN Blog
- ASU Foundation Creates New Socially Responsible Investment Fund | Arizona State University
- UNC Asheville Commits to Environmental, Social and Governance Criteria for Portion of Endowment | University of North Carolina Asheville
- UNH Expands Sustainability Leadership with Alignment of Investments and Values | University of New Hampshire
- 2018 Responsible Investing Report: A Closer Look | University of Toronto Asset Management Corporation
- Endowment ESG Carve Outs Boost Returns, Quiet Divestment Advocates | FundFire
- Greta is Coming. Sterling College President Stands with Students Across the World | Medium
- How Is Brown Investing in Sustainability? | Brown Daily Herald
- Doane Commits Divestment of Fossil Fuels | DoaneLine
- Report Examining Socially Responsible Investing at Pitt Released | The Pitt News
- Katherine Collins – Impact and ESG Investing | Invest Like the Best Podcast
- Here’s How the Treasury Department and IRS Plan to Tax Endowments | Institutional Investor
- MBA Students Face off in Challenge to Create the Next Best Impact Investing Idea | CNBC
- A Home for Impact Investing in Academia | Northwestern University
- Sustainable Finance Goes to Business School | Wall Street Journal
- Thinking Outside the Box: How and Why to Invest in a Climate Change Strategy | GMO
- Endowments Led by Women Outperform Those Led by Men | Pensions & Investments
- Refugee Lens Investing Arrives | Euromoney
- Assessing Mission-Aligned Investment Efforts: Progress and Challenges | Rockefeller Brothers Fund
- Black School Endowments Push for Growth, Diversity | Pensions & Investments
- All Too Rare: A Gift Underscores a Persistent Lack of Support for Community Colleges | Inside Philanthropy
- Chartered Financial Analysts Received New Guidance on Sustainable Investing. 4 Points Stand Out. | World Resources Institute
- An Opportunity for Higher Ed | U.S. News & World Report
- For My Future College, Fossil Fuel Divestment Is a Must-Have So the Climate Crisis Doesn't Make My Education Useless | Teen Vogue
- Stalling on Climate Change Action May Cost Investors Over $1 Trillion | Bloomberg
- The Investor Revolution | Harvard Business Review
- Special Report: Sustainable Investing | Institutional Investor
- CEOs of Major Companies Call on U.S. Congress to Set a National Price on Carbon | Ceres
If you have an original piece you would like to submit for an upcoming newsletter, or for more information about the Intentional Endowments Network and how you can support this work, please contact Hannah Bowen at [email protected].