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Harvard University Endowment

PRI reporting framework 2018

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Promoting responsible investment

SG 09. Collaborative organisations / initiatives

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

09.1. 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 was the first US-based university endowment to join the PRI.  HMC has promoted the PRI when engaging with other endowments, as well as companies.  HMC is currently participating as a co-lead investor in the PRI's methane engagement.   HMC is also a member of the PRI private equity advisory committee. During the reporting period HMC representatives joined the PRI Hedge Fund Advisory Committee and the Private Equity Advisory Committee. Representative are also helping to develop guidelines through their membership on the PRI Working Group on Private Equity Monitoring and Reporting Guide and the Working Group on Hedge Fund Responsible Investment Industry Guide. 

HMC representatives have also spoken at PRI events, including Mike Cappucci acting as the moderator for “The ‘why’, ‘how’ and ‘what’ of RI in hedge funds” at the PRI IN Person 2017.

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.  


SG 09.2. Assets managed by PRI signatories (Private)


SG 10. Promoting RI independently

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

10.2. Indicate the actions your organisation has taken to promote responsible investment independently of collaborative initiatives. Provide a description of your role in contributing to the objectives of the selected action and the typical frequency of your participation/contribution.

Description

          During the reporting period HMC sent letters to our external managers outlining HMC's commitment to the PRI and our Sustainable Investing Policy. Following up on the letter, the Sustainable Investing team opened up a dialogue with a portion of our external managers to further discuss their practices and offer to be a resource in the development of sustainable investing programs.
        

Frequency of contribution

Description

          HMC representatives have spoken publicly at events for investors that described how ESG factors can be integrated into investment decision making, including:
- Responsible Investment Forum New York 2017 – Panelist on “Implementing an effective ESG policy”
- The Investment Integration Project (TIIP) and the Center for Applied Research (CAR) conference on Effective Investing for the Long Term: Intentionality at Systems Levels July 2017, Boston – Panelist on “Implementation Challenges and Opportunities”
- PRI In Person 2017, Berlin, Germany – Moderator “The ‘why’, ‘how’ and ‘what’ of RI in hedge funds”
- 2017 LGT Capital Partners Alternative Investment Conference, Vienna Austria
        

Frequency of contribution

Description

          The ESG Integration Paradox, written by Michael Cappucci on June 8, 2017 (https://corpgov.law.harvard.edu/2017/07/26/the-esg-integration-paradox/)
        

Frequency of contribution

Description

          Encouraged asset managers to join the PRI.
        

Frequency of contribution

10.3. Describe any additional actions and initiatives that your organisation has taken part in during the reporting year to promote responsible investment [Optional]

Promoting the acceptance and implementation of responsible investment principles is a key part of HMC’s approach to sustainable investment. HMC seeks to raise awareness and adoption of responsible investment practices with its external managers and peer asset owners. During the course of 2017, we spoke with several dozen investment managers about our belief in and commitment to responsible investing. Members of HMC’s Sustainable Investment team also participated in industry forums and spoke publicly at investor events describing HMC’s approach to responsible investment. The speaking events included the Responsible Investment Forum New York 2017; The Investment Integration Project (TIIP) conference on Effective Investing for the Long Term; LGT Capital Partners Alternative Investment Conference in Vienna Austria; and PRI In Person 2017 in Berlin, Germany.

Harvard University, HMC’s parent institution, also actively participates in the advancement of sustainable investing in a broad range of initiatives. For example, Harvard University committed $3 million to help establish a community development program called the All Bright Home Ownership program. The program is an affordable homeownership initiative that is intended to reverse the negative impact from transient renters on the local Allston Brighton area. The Harvard Center for Green Buildings began a project to retrofit a conventional building near the Harvard campus to become an energy efficient headquarters and lab space for the Graduate School of Design for Green Buildings. The project seeks to prove that older buildings can be turned green and inspire more homeowners to include green housing technology in their own homes. These examples are representative of the broader sustainability efforts of Harvard University.


SG 11. Dialogue with public policy makers or standard setters (Private)


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