Due to limited internal resources the Foundation relies on it's asset consultant (Cambridge Associates) to provide specific ESG monitoring at the quarterly meeting of the Investment Committee. Cambridge Associates utilise the MSCI ESG Monitoring tool to identify any areas of potential concern to Trustees. The Foundation also relies on fund managers to provide ad-hoc summaries of proxy voting and where possible ESG type reporting, covering examples of collaborative engagement, sustainability engagement and or thematic commentary.
Recommendations for changes to the Responsible Investment Policy (part of the Foundations SIPO) are made by staff to the Investment Committee for subsequent approval by the Board.
The Foundation has already moved to exclude tobacco from it's listed equity mandates (pooled Developed and Emerging Markets Equity funds) and will consider futher exclusions as part of the on-going review of its Responsible Investment Policy.