who we are university principal corporate services group vp nigel paul procurement karen bowman...
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Responsible investment consultation- Meeting our UNPRI commitments
Dave Gorman, Director
Who we are
University
Principal
Corporate Services Group
VP Nigel Paul
Procurement
Karen Bowman
Social Responsibility &
Sustainability
Dave Gorman
Estates and BuildingsAngus Currie
Colleges
Heads of College
SASG
Sec Sarah Smith
IS
VP Jeff Hayward
What we doWe will understand and identify practical and strategic opportunities that will enable the University to respond to a changing world.
• Facilitating and encouraging collaboration across the University,• Using research and development to pre-empt emerging challenges,
treating the University as a living laboratory,• Supporting the development of transparent, evidence based strategy,
policy and best practice, and• Leading and innovating in our sector and across the globe.
Immediate priorities
• Start up, recruitment, processes and connections
• Review of the SRS strategy (what does SRS mean?)
• Review of the climate action plan
• Embedding SRS into learning and teaching
• Developing a plan to coordinate SRS communications
• UN Principles of Responsible Investment
University of Edinburghendowment funds (2013)
University of Cambridgecombined endowment funds (2011)
Harvard Universityendowment funds (2011)
University of Edinburghendowment funds (2013)
What is responsible investment
• Socially Responsible Investment Policy at the University since 2003
• The University would respond if an activity "was wholly contrary to the University’s value systems”, based on:– Mission Statement and Goals– Corporate Plan– Wider issues of social, environmental and humanitarian
concern
What are the UN Principles of Responsible Investment?
• First university in Europe to sign the UN PRI• Requires the University to consider
environmental, social and corporate governance issues in its investment practices
What we have committed to do
1. Undertake a Peer Review 2. Develop a statement of Investment Beliefs3. Create a plan to amend and review the
responsible investment policy
This consultation is the next stage in turning the University’s commitment into reality.
Contrasting views
Where the endowment is invested
Main Elements of the consultation paper
Principles to inform decision
making
Strategic approach to investment
Avoidance of investment ‘in
principle’
Organisational and policy changes
Seek to maximise the opportunities to utilise its endowment funds to further its mission to advance human knowledge and benefit society, and to support its students
Take a long-term view of its investment approach, fully informed by the need for financial sustainability, wealth creation, ethical developments, environmental sustainability and public and social value
No investment choices will be made which threaten the long-term viability of the University as an ongoing institution or undermine its core academic freedom
In making, managing and reporting on its investment choices, the University should be open and transparent about the reasoning behind its choices, and the approaches it has adopted to inform its activities
Principles to inform decision making
Seek to maximise its opportunities to act as an agent for change, to encourage a wealthier and fairer, smarter and healthier, greener and safer, and stronger society, ensuring that it considers the potential impact of investment choices as drivers for positive change where possible
Seek to ensure it receives a wide range of advice and consults widely before it makes substantial changes to its responsible investment approach
The University reserves the right to avoid investing in particular types of activities which are fundamentally incompatible with the mission of the university to benefit society as a whole.
Principles to inform decision making
Strategic approach to investmentInvestment in companies and funds which contribute to a wealthier and fairer, smarter and healthier, greener and safer and stronger global society
Direct investment in university activities and objectives e.g. renewable energy generation- on –site or off-site, climate emissions reduction, energy efficiency etc.
Direct investment in a range of ‘start-up’ innovative companies or social investments linked to identified social responsibility themes, perhaps using concepts such as social impact bonds
Avoid investment in sectors or companies failing to reach recognised standards
It’s a journey…• Currently, seeking wide range of views• This process part of a longer-term journey• Looking for best practice and evidence• Decisions to follow….
• Visit the consultation webpage at www.edin.ac/1dWzhf8
• Follow the instructions on that page – you can submit your answers using an online form or by email.
How to give your views