Appointments to HMC's Board of Directors are approved by the President and Fellows of Harvard College. Ex officio members of the HMC Board include Harvard University’s President, Treasurer, and Chief Financial Officer, as well as the President of HMC. Other members of the Board, leaders in their respective fields, are selected for their investment, academic, and industry expertise, including familiarity with incorporating relevant material ESG risk factors into the investment decision-making process. One recently retired Director, Sir Ronald Cohen, brought extensive experience in ESG integration and social impact investment to the Board. Although HMC's Board and individual Directors provide oversight of and insight to HMC's management and investment teams, they do not make investment decisions for the endowment.
Senior investment professionals generally are familar with incorporating relevant material ESG risk factors into the investment decision-making process within their asset class. During the reporting year, HMC's Chief Compliance Officer ("CCO") supervised all activities of HMC's Vice President for Sustainable Investment. The CCO has experience in identifying relevant material ESG risk factors within the HMC portfolio and works with portfolio managers to monitor and manage these risk factors.