Efforts and Investments in Sustainable Investments
|First-Year Seminar titled “War Crimes, Tribunals, and Truth Commissions” served as the inspiration for a student proposal to consider divestment from companies in Darfur, Sudan.
|Dickinson created the Socially Responsible Investing Discussion Group to explore divestment, with a focus on companies in Darfur, Sudan. The group expanded its focus to include an exploration of socially responsible investing more broadly and concluded with a white paper in 2009.
|Investure formed the Sustainability Series for interested clients. The core of the Sustainable Series consists of investments in high-quality businesses with high-quality management teams that have taken a long-term approach to managing the economic, environmental and social aspects of their business. The Sustainable Series may also include more thematic investments with managers who focus on specific sustainability issues (clean energy, water, climate change, green real estate, etc.). The first investment in the Sustainability Series was a global public equities manager with broad sector exposure that focuses on integrating an understanding of sustainability issues and trends alongside fundamental business and management analysis.
|Dickinson invested $4 million in the Sustainability Series.
|The Sustainability Series made its second investment in Brazilian hydro and wind power.
|Dickinson’s Investment Committee approved Recommended Proxy Voting Principles, which are shared with Investure’s third-party managers. These principles reflect the core values of many consortium clients regarding environmental and socially responsible investing and are intended to promote a culture of active shareholder engagement.
|Investure began more granular reporting on fossil fuel and sustainability exposure for Dickinson and dedicates additional resources to help communicate with Dickinson’s students, faculty, and staff on sustainability efforts.
|Dickinson creates the Sustainable Investments Task Force (“SITF”) in response to calls from students to divest from fossil fuel investments. A 7-month study was conducted with recommendations sent to the Investment Committee of the Board of Trustees in December 2013.
In response to SITF recommendations, the Investment Committee of the Board of Trustees agreed to the following:
|Investure hosted a Dickinson intern to study issues related to sustainability. Projects included an analysis of Investure joining the UN- supported Principles for Responsible Investment Initiative; research for an energy summit off-site; and research on composition of ESG indices.
|The Sustainability Advisory Group (“SAG”) was formed with Investment Committee representatives from Dickinson and other interested Investure clients. SAG members discuss sustainability issues on their campuses and within the Investure portfolio.
DSIG Annual Forum – All-Campus Investment Forum
|Investure hosted students from Dickinson and other client campuses to continue direct dialogue about their concerns regarding fossil fuel investments.
DSIG Annual Forum – Managing Dickinson’s Investments with an Eye on Sustainability
A presentation to inform the campus about how the endowment is invested and managed, along with an overview of sustainable investments made on campus. Audience participation through Q&A.
DSIG Annual Forum – Sustainability. It’s Time for Dialog.
A follow up to the discussion held in January to explore six key topics on sustainability at Dickinson by way of round table discussions facilitated by DSIG members.
|The Committee on Investments endorsed DSIG’s investment beliefs statement for use by DSIG.
|Dickinson committed $2 million to a private manager focused on delivering cutting-edge sustainability best practices to its portfolio of investments through innovations in sustainability and advanced technologies.
DSIG Annual Forum – Financing Climate Change at Dickinson
A presentation on Dickinson’s 2020 commitment and projects in place to help reduce our emissions, along with participant discussion about behavior changes and other ways to help achieve our goals.
|The Committee on Investments approved an increase in Dickinson’s commitment to the Sustainability Series from $8 million to $16 million and agreed to invest in a low carbon exchange-traded fund as a placeholder for the unallocated or uncalled portion of Dickinson’s total commitment (approximately $11 million).
|DSIG adopts a Sustainable Investment Reporting policy to guide performance reporting for AASHE STARS and other external reports.
|Dickinson submitted their updated AASHE STARS report. Investure worked with DSIG to include additional criteria for the quarterly exposure report based on the Sustainable Investment Reporting policy.
|Dickinson committed $1.7 million to a manager specializing in identifying idiosyncratic sustainable real assets, leveraging decades of experience in sustainability, value investing, and real assets.
DSIG Annual Forum – Sustainable Endowment?
A presentation on the college’s endowment structure and approach to sustainable investing with a focus on the approach used by Graham Partners, one of the endowment’s fund managers.
|Dickinson committed $1.3 million to a manager investing in businesses that create stakeholder value while building a more sustainable and cleaner economy. The investment closed in May 2019.
|Dickinson committed $1.7 million to the next fund of an existing sustainability manager.
|DSIG dissolved until such time as there is a need to reconstitute and reconvene the group. It was agreed that the President’s Commission on Environmental Sustainability would be the appropriate forum for discussion of ESG questions with regards to the endowment.
|Sustainability and energy transition becomes an investment theme and focus throughout the broader portfolio. Investure dedicates an investment professional to lead research and sourcing around these themes.
|Dickinson committed $0.4 million to a climate-related venture capital fund.
|Dickinson committed $0.4 million to the next fund of an existing sustainability manager.
|First investments made in carbon allowance markets.
|Additional investment in the Sustainability Series. Dickinson is now fully committed to the original $16M commitment to the Sustainability Series.