Harvard to sign on to United Nations-supported Principles For Responsible Investment

first_imgBOSTON – Harvard today announced its decision to sign on to the United Nations-supported Principles for Responsible Investment (PRI), becoming the first university endowment in the United States to join the organization. The PRI is recognized as the leading global network for investors who are committed to integrating environmental, social and governance (ESG) considerations into their investment practices and ownership policies. Harvard Management Company (HMC) will implement the principles in its management of the University’s endowment and related financial assets.“As long-term investors, we are by nature focused on material ESG factors and the responsible stewardship of our investments,” said Jane Mendillo, President and Chief Executive Officer of HMC. “After careful review of the PRI, we decided that implementing the principles put forth by this pioneering organization is a natural step for us in the evolution of our sustainable investment practices. At the same time, it is consistent with our paramount focus on maximizing returns to support the mission of Harvard University.”The decision to join the PRI follows a yearlong review process and Harvard President Drew Faust’s commitment, expressed in a letter to the Harvard community in October 2013, to strengthen Harvard’s approach to sustainable investment. This commitment was endorsed last month by the University’s Corporation Committee on Shareholder Responsibility, the committee that addresses questions about investment policy at Harvard.The PRI’s network of international investors work together to implement a set of voluntary principles that provide a framework for integrating ESG factors into investment analysis and ownership practices aligned with investors’ fiduciary duties.“Harvard University is the first U.S. endowment to publicly commit to investing its funds in a more responsible and sustainable manner using the PRI’s voluntary framework, and we are thrilled to welcome them to the organization,” said Fiona Reynolds, Managing Director of the PRI. “Sustainable investment is one of the world’s fastest-growing investment trends, and Harvard’s leadership provides a model for other U.S. universities.”In addition to subscribing to the PRI’s principles, HMC also announced that it will become a signatory to the Carbon Disclosure Project’s (CDP) climate change program. The CDP is an international nonprofit organization that works with governments, public companies and over 700 investors to drive environmental disclosure and performance of publicly listed companies.Harvard will review and assess involvement in both organizations from time to time.About Harvard Management CompanyHarvard Management Company is a subsidiary of Harvard University. Founded in 1974, HMC provides professional investment management of the University’s $32 billion endowment and related financial assets, using a unique hybrid structure integrating internal and external management. HMC’s strong investment results over four decades have enabled the world-class teaching, groundbreaking research and extensive financial aid programs of Harvard University.last_img read more

North Amityville Shooting Leaves 1 Dead, 1 Wounded

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York A 38-year-old West Babylon man was killed and a second man was wounded during a shooting in North Amityville on the Fourth of July, Suffolk County police said.Officers responded to a 911 call reporting that two men were shot on Emerald Lane North at 3:19 a.m., police said.Jason White and a 28-year-old Wyandanch man were taken to Southside Hospital in Bay Shore, where White died from his injuries and the second victim was admitted in serious condition.Homicide Squad detectives are continuing the investigation and ask anyone with information on this shooting to call them at 631-852-6392 or anonymously to Crime Stoppers at 1-800-220-TIPS.last_img

Bruce reveals Welbeck approach

first_img Press Association Four goals in six matches suggest he has enjoyed starting as a central striker under Arsene Wenger and Bruce is unsurprised. “I rang his brother (and agent, Chris) but there was some rather big clubs in for him,” said Bruce, whose side take on the Gunners at the Emirates Stadium on Saturday. “I think Spurs were in there, Arsenal as well of course, and one or two from Europe as well. “He had a pick shall we say but, yes, we had a dabble. “I’ve got no doubt in my mind after working with him that he can play at any top four side, no question. He’s a top player. “He’s played a lot on the left (for United) and then people start criticising his goalscoring record, but you put him down the middle as a striker and he will score.” Bruce, as a former Red Devils captain, was surprised to see his old club cash in on one of their brightest homegrown talents but understands the dilemma Louis van Gaal faced balancing his forward options. “They’ve made changes at United and decided he’s surplus but I believe he can play in any top team around Europe,” said Bruce. “When you’ve got (Wayne) Rooney, (Robin) van Persie and (Radamel) Falcao you’ve got a decision to make but it surprised me because not often do you see Manchester United selling a very good young player. “The proof will come over time whether they regret it but I’m sure it will work out for him at Arsenal.” Steve Bruce has revealed he tried to sign Danny Welbeck for Hull in the summer, but has no doubt he has the class to thrive at the very highest level with Arsenal. center_img Tigers boss Bruce has history with the England striker, having taken him to Sunderland on loan in 2010-11, and was keen to renew their acquaintance when it became clear Welbeck’s Manchester United days were numbered. He admits Hull’s interest never got past an initial enquiry, with heavyweight suitors from home and abroad vying for the 23-year-old’s signature, and accepts the player deserves to be among the Champions League elite. last_img read more