sustainable investing 100 women in hedge funds meredith miller assistant treasurer for policy office...
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Sustainable Investing100 Women in Hedge Funds
Meredith MillerAssistant Treasurer for Policy
Office of the Connecticut State Treasurer
June 4, 2009
Office of the Connecticut State Treasurer
• Treasurer Denise L. Nappier• Elected in 1998• Principal fiduciary of $26 billion*
• Connecticut Retirement Plans and Trust Funds (CRPTF)• Under state law, the Treasurer may consider economic, social
and environmental implications of investment decisions in addition to prudence:
• National Security considerations• MacBride Compliance• Sudan, Iran Divestment
* As of June 30, 2008.
CRPTF Policy on Corporate Citizenship
“Corporate citizenship” encompasses the principle that, in addition to the traditional corporate focus on profits and short-term performance, the business community must be responsible for “long-term sustainable development of people and communities.”
CRPTF Investment Policy Statement Adopted March 13, 2002
ESG Milestones
• State Law reference to ESG• First public fund to:
- File a shareholder resolution on climate change (2001, AEP)- Be a signatory to CDP and PRI CEO Water Mandate Letter- Co-host U.N. Investor Summit on Climate Risk 2003- Lead public founder of Investor Network on Climate Risk (www.INCR.com)
ESG Milestones
CRPTF Shareholder Activities (ExxonMobil, Home Depot, Southern Company)
ESG Integration at Consultant/Investment Manager Level (CRPTF uses Mercer)
CRPTF Direct Investment in ESG (emerging domestic, clean tech)
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