During the reporting period, the Chief Compliance Officer (CCO) helped the organization set ESG goals and objectives, develop ESG policies and procedures, and implement ESG integration plans across the portfolio. The CCO also met regularly with Harvard University's CCSR to update the CCSR on ESG initiatives across the endowment. Additionally, the CCO prepared and delivered a quarterly sustainable investing report to HMC's Board and Chief Executive Officer. The CCO also attended meetings of the ACSR as a non-voting participant during the 2017 proxy voting season.
The other members of the Sustainable Investing team support the CCO by tracking and gathering information, preparing reports, and liaising with internal portfolio managers and external investment managers.
Portfolio managers identify relevant ESG risk factors that may have a material impact on investments in their portfolios. Portfolio managers are responsible for managing these risk factors and developing plans to monitor and mitigate these risks. Portfolio managers within HMC are also responsible for working with external managers to identify relevant ESG risk factors that may have a material impact on investments managed by those third party managers.