October 8, 2015 Meeting – Carleton Responsible Investment Committee

Location: Sayles 253

Time: 3:10 pm

Present Vicky Wu, David Coleman, Fred Rogers, Anil Methipara, Robert Harris, Melissa Thomas, David Alberg, Doug Marshall

Secretary: Jenna Greene

Agenda:

1) Thoughts on Report and recommendations

2) Campus outreach/event

3) Trustees Meeting

Trustee meeting: Thursday, October 22^nd (two weeks from today)

Committee has arranged for CRIC members to come for 15 minutes for us to explain/discuss the report (or ask questions). It will be first on their agenda at 8am.

Report and recommendations

CRIC will be presenting their report to the Board of Trustees at their next meeting. We will have 15 minutes to explain and discuss the reports; also to answer any questions.

Can we have more details in our ESG recommendation about metrics and companies in order to improve upon our recommendation?

We were confronted with a question of addressing climate change and advocating for aligning our investment strategies with Carleton values
ESG investment would not be a screen. Although CRIC would prefer a climate change heavy ESG approach, we don’t know exactly what that means in terms of metrics.

Which is actionable? Divestment or ESG? Exploring the possibility of ESG is actionable, but not specific. Is it a bad thing that it is vague? Might that allow Carleton to think about what they would want in an ESG metric?
Recommendation to divest from top 100 coal companies would be less risky for the endowment and would allow for time to develop the ESG principles to then see about fossil fuel companies
In our presentation to the board, we do not want to recommend specific metrics within our 15 minutes. We want to present our recommendations and recognize their strengths and weaknesses without getting into specifics

Campus Outreach/event

Before or after Trustee meeting?

Before or after Trustee response?