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Harvard University Endowment

PRI reporting framework 2016

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Organisational Overview
Basic Information [OO 01 - 10] Gateway asset class implementation indicators [OO 11 - 13]
Strategy and Governance
Responsible investment policy [SG 01 - 03] Objectives and strategies [SG 04 - 05] Governance and human resources [SG 06 - 07] Promoting responsible investment [SG 08 - 10] Implementation not in other modules [SG 11 - 15]
Indirect – Manager Selection, Appointment and Monitoring
Overview [SAM 01 - 02] Listed equity (LE) and Fixed income (FI) [SAM 03 - 08] Overview [SAM 03 - 04] Selection [SAM 05] Monitoring [SAM 07 - 08] Private equity (PE), property (PR) and infrastructure (INF) [SAM 09 - 11] Selection [SAM 09] Monitoring [SAM 11] Outputs and outcomes [SAM 12 - 13] Communication [SAM 14]
Direct - Listed Equity Incorporation
Overview [LEI 01 - 02] ESG incorporation in actively managed listed equities [LEI 03 - 12] Implementation processes [LEI 03 - 12] (A) Implementation: Screening [LEI 06 - 08] (C) Implementation: Integration of ESG issues [LEI 10 - 12] Communication [LEI 17]
Direct - Listed Equity Active Ownership
Engagement [LEA 01 - 16] Overview [LEA 01 - 02] Process [LEA 03 - 10] Process for engagements run internally [LEA 03 - 04] Process for engagements conducted via collaborations [LEA 05 - 06] General processes for all three groups of engagers [LEA 09 - 10] Outputs and outcomes [LEA 11 - 15] Communication [LEA 16] (Proxy) voting and shareholder resolutions [LEA 17 - 27] Overview [LEA 17] Process [LEA 18 - 22] Outputs and outcomes [LEA 23 - 26] Communication [LEA 27]
Direct - Property
Overview [PR 01 - 05] Pre-investment (selection) [PR 08 - 12] Selection, appointment and monitoring third-party property managers [PR 13] Post-investment (monitoring and active ownership) [PR 14 - 20] Overview [PR 14] Property monitoring and management [PR 15 - 16] Property developments and refurbishments [PR 17] Occupier engagement [PR 18 - 19] Community engagement [PR 20] Outputs and outcomes [PR 21 - 22] Communication [PR 23]
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You are in Strategy and Governance » Promoting responsible investment

Promoting responsible investment

SG 08. Collaborative organisations / initiatives

New selection options have been added to this indicator. Please review your prefilled responses carefully.

08.1. Select the collaborative organisation and/or initiatives of which your organisation is a member or in which it participated during the reporting year, and the role you played.

Select all that apply

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

HMC is the first US-based university endowment to join the PRI.  HMC has promoted the PRI when engaging with other endowments as well as companies.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

HMC is a signatory to CDP's climate change program.  CDP is an international non-profit organization that works with governments, public companies, and over 700 investors to drive environmental disclosure and performance of publicly listed companies.  CDP urges companies to disclose information regarding greenhouse gas emissions, energy use, and the risks and opportunities from climate change, and shares that information with its signatories.  One key way in which HMC supports CDP is by signing onto CDP's letters to companies each year.  Additionally, in the past year,  HMC's Vice President of Sustainable Investing spoke on a webinar to an audience of university endowments describing why HMC is active in CDP.

 
          Sustainability Accounting Standards Board ("SASB")

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

On a quarterly basis, HMC sends informational letters to non-renewable energy companies in its listed equity portfolio requesting that they implement the SASB provisional standard.  SASB has developed industry-specific sustainability reporting standards that focus on the most material issues for particular sectors.  They are designed to be used in reporting to the U.S. Securities and Exchange Commission.

 
          UNPRI Investor Working Group on Corporate Climate Change Lobbying

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

HMC is an active member of the the PRI Investor Working Group on Corporate Climate Change Lobbying.   This group urges businesses to ensure that their lobbying practices support rather than detract from action on climate change.  Investors that join the group engage with companies individually and collectively on this issue.

08.2. Additional information. [Optional]

SG 09. Promoting RI independently

09.1. Indicate if your organisation promotes responsible investment, independently of collaborative initiatives.

09.2. Indicate which of the following actions your organisation has taken to promote responsible investment, independently of collaborative initiatives.

09.3. Additional information. [Optional]

HMC has taken a number of steps to promote responsible investment practices.

First, HMC has increased its internal capacity.  For example, the Vice President for Responsible Investment conducted "lunch and learns" for colleagues that focused on responsible investment, the PRI, and how ESG factors are relevant to particular asset classes.

Second, HMC has encouraged external parties to adopt responsible investment practices.  For example, HMC has encouraged other endowments to join the PRI.  The Vice President for Responsible Investment also carried out webinars and spoke publicly at conferences for endowments and foundations that described how ESG factors can be integrated into investment decision making.

Third, HMC urged companies, primarily through letters, to adopt the SASB reporting standards, which include a range of ESG issues.

SG 10. Dialogue with public policy makers or standard setters (Private)

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