91制片厂

Did you know that as of July 30, 2020 91制片厂 was ranked sixth among universities in the country for its sustainability practices, topped only by schools like Stanford University, Colorado State, and Arizona State University? Did you know 91制片厂 also is one of only nine schools worldwide and only seven in the United States to ever earn the听Advancement of Sustainability in Higher Education鈥檚 STARS Platinum rating?听

Here鈥檚 something else you may not know: these days, the university鈥檚 endowment is investing more and more into sustainable investing, better known as environmental, social, and governance (ESG) investing. Paul College alums were integral to this shift, and in the proud 91制片厂 tradition of undergraduate student research, the 91制片厂 Foundation鈥檚 decision to include sustainable investing in its endowment portfolio grew, in part, out of a student鈥檚听Undergraduate Research Conference听(URC) presentation in 2013.听

It all began when economics and political science dual major Austin听Perea听鈥�13 did a Social Innovation Internship with Pax World Funds, now Impax Asset Management, in Portsmouth, N.H.听

鈥淚t was there that I learned about ESG, which puts an additional lens over a company you鈥檙e looking at and determines the company鈥檚 likely impact on the environment, society, and on its employees,鈥澨齈erea听said. 鈥淚f they check out positive, you move forward with them.鈥澨�听

Perea听liked the model so much he introduced it to the Atkins Investment Group鈥擯aul鈥檚 student-run investment team. He also made ESG investing the basis for a year-long research project he ultimately presented at the URC. The project, designed and conducted with a small group of other students, was inspired by his experiences in ESG investing the prior summer through the internship program. The students were keen to consider whether ESG investment approaches should be considered for 91制片厂鈥檚 own endowment. He felt developing comprehensive research was a smart approach to help drive change at 91制片厂.听

鈥淥ur presentation dispelled the notion that ESG investments tended to underperform. We found they actually outperformed non-ESG sectors,鈥� said听Perea, whose research benefited from guidance he received through the 91制片厂 chapter of Net Impact, a national nonprofit for students interested in the 鈥渢riple bottom line鈥� of people, planet, and profit.听

He later presented his findings to the 91制片厂 Foundation, which manages the university鈥檚 endowment. One year later, 91制片厂 created an ESG 鈥渟leeve,鈥� i.e., a specialized group of equities. Since then, the 91制片厂 Foundation鈥檚 Investment and Finance Committee has continued to make more changes to align the University鈥檚 investment practices with its leadership in sustainability, under the guidance of the Committee on Investor Responsibility听(CIR), on which听Perea听also serves as an alumni representative.听听

In May of 2019, after approval by the 91制片厂 Foundation Board in early 2018, the Foundation completed the transition of 16 percent of its investable assets鈥�$37 million at the time鈥攊nto ESG-qualified investments, making it one of the few higher education institutions in the country to take this approach to aligning its investments with its values of sustainability. Today, due to growth in the endowment鈥檚 assets and the key decisions made by the Foundation鈥檚 investment committee, almost a quarter of the endowment is managed using ESG criteria.听 The ESG pool has performed on par or better than the main investment pool over this time.听听

Erik Gross, senior executive director of finance and treasurer of the 91制片厂 Foundation, praised听Perea鈥檚听involvement in the CIR.听听

鈥淎ustin has been a valuable member of the CIR since its creation in 2017,鈥� said Gross. 鈥淗is comprehensive view of sustainable investing developed in his career post-91制片厂, coupled with his deep involvement from the beginning of 91制片厂's journey into sustainable investing, brings a听valuable听perspective to the CIR's deliberations and work.鈥澨�

Gross said the Foundation has听received a number of planned gifts that are being invested in the ESG pool. 鈥淎s the Foundation鈥檚 experience and knowledge of ESG investing grows alongside that of the greater financial markets,鈥� said Gross, 鈥渨e expect ESG investing to continue to grow in demand and demonstrate strong performance.鈥澨�

鈥�91制片厂 is rightly proud of its place as a national leader in sustainable investing in higher education. This accomplishment is made all the more rewarding for having involved students, alumni, university staff and community volunteers in a collaborative effort at a time when institutions of higher education ought to be leading by example,鈥� said 91制片厂 Foundation board member and Investment and Finance Committee chair Ned Dane.听听