Responsible Investing update

Responsible Investing update

To:                  University of Waterloo community

From:              Dennis Huber, Vice-President, Administration & Finance

Date:               May 29, 2019

Subject:          Responsible Investing update

Note:               This email is for information

As you may be aware, the University of Waterloo, through the Responsible Investing Working Group (“RIWG”), conducted a year-long review of how best to incorporate environmental, social and governance (ESG) factors into investment decisions related to its endowment and pension funds.

At its June 2018 meeting, the Board of Governors adopted the recommendations of the RIWG, confirming that the University will consider ESG an important lens in the investment decision-making process and approving institution-wide ESG guidelines.

Over the past year, the University has continued to take steps to implement the recommendations, including, but not limited to:

• Embedding ESG capabilities as part of the criteria used to select a new investment manager for the endowment fund;
• Requiring enhanced reporting and data analysis from investment managers to  explain how they reflect ESG practices in investment decision making;
• Evaluating the process and steps required to become a signatory in good standing to UN Principles for Responsible Investment (UN PRI) in order to table a proposed implementation plan to Board of Governors later this year.

The University of Waterloo is committed to stewarding our resources effectively for the benefit of our entire community by incorporating an ESG lens in our decision-making.

Supervisors, please post for the convenience of employees without direct access to email.