University Secretariat and Legal Counsel

University Secretariat and Legal Counsel
University Secretariat and Legal Counsel

Procedure 1 - External Investment Manager ESG Monitoring

Contact Officer: Director, Investment Services

Date Approved: May 12, 2017

Approval Authority: Board of Trustees

Date of Commencement: May 15, 2017

Purpose

To ensure External Investment Managers’ compliance with the Responsible Investing Policy of the Board of Trustees.

Procedure

External Investment Managers will be required to take due regard of environmental, social, and governance (“ESG”) factors in making investment decisions. Managers will be asked to engage where appropriate and report to the University on their ESG activities on an annual basis.

Investment Services

Step 1

Investment Services will send a copy of the relevant Statement of Investment Policies & Procedures (“SIP&P”) and Responsible Investing Policy to the External Investment Managers annually, or immediately after any revisions to these documents.

Investment Services will also send an ESG-related questionnaire to the External Investment Managers annually. Investment Services will review the responses and follow up as necessary.

External Investment Managers

Step 2

All External Investment Managers that manage assets on behalf of the University will report to Investment Services annually on their ESG activities. They will also provide detailed responses to the annual questionnaire.

Investment Services

Step 3

Investment Services will prepare consolidated reports annually for the Pension Committee and Investment Committee for discussion, including recommended actions, if any.

Investment Services

Step 4

Investment Services will promptly follow up on any action items stemming from the committee discussions.

Secretary, Pension Committee & Secretary, Investment Committee

Step 5

The Investment Committee and Pension Committee will each report annually to the Board on compliance with the Responsible Investing Policy within their areas of responsibility.

Related Policies, Procedures and Guidelines

Responsible Investing Policy

Procedure 2 - Special Requests

Statement of Investment Policies and Procedures (SIP&P) – Investment Funds

Statement of Investment Policies and Procedures (SIP&P) – Pension Fund