The University of Waterloo is seeking members to establish a task force to review the University’s Responsible Investment Policy and related policy framework with a particular lens on social factors including international human rights and diversity, equity and inclusion as outlined in the United Nations’ Principles for Responsible Investment (UNPRI), to which Waterloo is a signatory.
Call for members is now open
Faculty, staff and students are invited to submit nominations to serve on the task force by filling out this nomination form by July 9, 2024.
Nominations must be accompanied by a brief expression of interest including related experience or expertise relevant to the work of the task force. Please read the required skills and competencies as this is the criteria for member selection.
The task force will consist of approximately eight to ten members, including representation from faculty, staff, students (undergraduate and graduate), and the Board of Governors. They will be advised in their work by a resource group from across various support units and subject matter experts and will consult broadly with members of the University community.
Thank you in advance for your interest, and we look forward to your feedback and participation in this important initiative.
Required skills and competencies
Task force members will be selected based on the following criteria:
- Demonstrated sound judgment and critical thinking skills
- Demonstrated significant education in institutional investments is an asset
- Demonstrated experience with one or more of responsible investment, institutional investments and/or incorporation of ESG factors in investment decision making
- Experience with Canadian or international sustainability disclosure standards and/or ESG investment related disclosures by investees is preferred
- Knowledge/experience working with the “S” in ESG is preferred (i.e. knowledge of UN sustainable development goals etc.)
- Equity, Diversity, and Inclusion criteria, allowing for members to bring lived experiences and diverse backgrounds to bear on these questions
- Diverse representation across the University
- For faculty, academic experience with the subject matter is not required but would be an asset
- Experience with University committees and governance is preferred
Mandate
The Task Force on Social Responsibility in Investing will:
- Review existing practices and obligations related to disclosure of the University’s investments;
- Conduct an environmental scan of responsible investing policies and practices at comparator universities insofar as they relate to social factors, disclosure, and receipt of expressions of concern;
- Examine the University’s Responsible Investment Policy and related policy framework with a lens on social factors including international human rights and diversity, equity and inclusion and make recommendations on the Responsible Investment Policy as it relates to the definition and contemplation of social factors from an ESG lens;
- Make recommendations on the University’s investment policy framework to address matters related to receipt of expressions of concern in relation to the University’s investments, in accordance with the Responsible Investment Policy.
Timeline
The process to reach the objectives outlined above, including broad consultation with the University community and relevant stakeholders should aim to conclude by the end of the 2024 calendar year.
Reporting and communication
The Task Force shall provide regular updates on its progress to the Office of the Vice-President Administration and Finance. The final report and recommendations shall be submitted to the President and shared with the Board of Governors and broader University community. The report and administrative response will be posted publicly. Any proposed development or revision of policies or guidelines will follow the appropriate governance pathways.
Background
In 2022, the Board of Governors approved a Responsible Investment Policy. The policy forms part of a broader responsible investing framework which includes Environmental, Social, Governance (“ESG”) guiding principles and guidelines for their application to University investments, as well as the UNPRI and the Responsible Investment Charter for Canadian Universities, for which the University of Waterloo has signed declarations to confirm its commitments.
When the Responsible Investment Policy was approved in 2022, though climate change mitigation was designated as a priority area among ESG factors, it was recognized that further consideration would be required relating to other ESG factors including social justice, equity, diversity and inclusion and their potential consequential impact on investment risk and reward.
The University’s new values – to be presented to the Board of Governors in June – along with our existing and ongoing commitment to Indigenization, equity, diversity, inclusion and anti-racism, and recent global events have hastened the need to examine social factors including international human rights and diversity, equity and inclusion as outlined in the UNPRI. The task force will also build on the new principles which will soon emerge from the Task Force on Freedom of Expression.