As we have noted in prior posts, the Regents at their last meeting did not agree to divest fossil fuels but did agree to some kind of vague green investing plan (including an earmarked $1 billion).
A media release has appeared from UCOP:
The University of California today (Sept. 22) announced that it has
become a signatory of the United Nations-supported Principles for
Responsible Investment, the first American public university to join the
leading international network of institutional investors committed to
including environmental, social and governance factors in their
investment decision making. By adding its name to the other 1,270 signatories who have agreed to
put into practice six principles for responsible investing, UC has
formally endorsed an investment framework that aligns with President
Janet Napolitano’s systemwide sustainability initiative. The signatories
of the PRI, as the network is known, collectively have some $45
trillion in assets under management...
The six key principles are:
- We will incorporate ESG issues into investment analysis and decision-making processes.
- We will be active owners and incorporate ESG issues into our ownership policies and practices.
- We will seek appropriate disclosure on ESG issues by the entities in which we invest.
- We will promote acceptance and implementation of the principles within the investment industry.
- We will work together to enhance our effectiveness in implementing the principles.
- We will each report on our activities and progress towards implementing the principles.
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