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Harvard University Endowment

PRI reporting framework 2018

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You are in Indirect – Manager Selection, Appointment and Monitoring » Outputs and outcomes

Outputs and outcomes

SAM 08. Percentage of externally managed assets managed by PRI signatories (Private)


SAM 09. Examples of ESG issues in selection, appointment and monitoring processes

09.1. Provide examples of how ESG issues have been addressed in the manager selection, appointment and/or monitoring process for your organisation during the reporting year.

Topic or issue
          External Manager ESG Engagement
        
Conducted by
Asset class
Scope and process

HMC Sustainable Investing staff have held phone interviews with external managers to discuss their ESG policies, learn about any sustainability reporting, and share HMC's views. 

Outcomes

HMC has opened a dialogue with some external managers regarding ESG issues. Select managers have been more inclined to keep HMC updated regarding developments to their sustianable investing practices.

Topic or issue
          Anti-corruption program
        
Conducted by
Asset class
Scope and process

Over the past two years, existing external managers in natural resources have been provided with more detailed guidance on reporting expectations surrounding interaction with government officials. These more detailed expectations are a result of increased focus on ensuring best practices surrounding anti-corruption efforts and ensure that HMC is able to effectively monitor and ensure proper governance within each investment.

Outcomes

As a result of these new guidelines, external managers are now providing HMC with more detailed reporting on government interactions and prompt notice regarding any incidents or potential issues thereby allowing both HMC and the external manager the opportunity to adhere to best practices. 

Topic or issue
          Side Letters
        
Conducted by
Asset class
Scope and process

HMC seeks to include in its side letters to new fund investments provisions regarding ESG integration and disclosure. The provisions are tailored by asset class and the manager’s ESG risk.

Outcomes

Select managers have acknowledged the PRI principles and HMC’s commitment to sustainable investing, and agreed to provide additional reporting on ESG incidents and/or performance.

09.2. Additional information.


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