A Practical Guide for Fiduciaries

About the author

This toolkit was written by Rob Lake. Mr. Lake is an independent responsible investment advisor. He has worked with pension funds and other investors in Australia, Canada, Iceland, the Netherlands, Norway, Sweden, Singapore, the UK, and the US. He is a contributor to the United Nations Environment Programme Inquiry into the Design of a Sustainable Financial System and an advisor to the Organisation for Economic Cooperation and Development. He is a former member of the Strategy Council to the Norwegian Government Pension Fund Global. He was previously with the United Nations Principles for Responsible Investment, the Dutch pension manager APG, and the investment management firm Henderson Global Investors. Rob Lake can be contacted at rob.lake@roblakeadvisors.co.uk. Final responsibility for the content of this report lies with the Responsible Endowments Coalition (REC) and the Service Employees International Union (SEIU).

Project Team

Daniel Apfel, Croatan Institute
Vonda Brunsting, SEIU Capital Stewardship
Christi Electris, Croatan Institute
Sandra Korn, Croatan Institute
Rob Lake, Rob Lake Advisors Ltd.
Andreea Rodinciuc, Croatan Institute
David Roswell, Croatan Institute
Marcie Smith, Responsible Endowments Coalition
David Wood, Initiative for Responsible Investment, Harvard Kennedy School
Marguerite Young, SEIU Capital Stewardship
This toolkit is the product of two input meetings, or “charrettes,” held in New York City and Oakland, California in late 2014. A total of 18 trustees, staff, and fiduciaries from mid-sized institutional investors (including endowments, foundations, religious investors, and Taft-Hartley funds) participated in the charrettes. At these meetings, the project team gathered information from these participants about what is important to them when considering changes to their policies and portfolios. Their feedback has shaped the formation of this toolkit.

This toolkit is not meant to be read cover-to-cover, but rather to be used as a resource as your fund undergoes an internal process to take action on climate change. Signposts indicate which sections are relevant to which audience: endowments, foundations, or pensions. Feel free to print and copy any sections of the toolkit for use in meetings with trustees, investment managers, or investment consultants.

This project has been spearheaded by Responsible Endowments Coalition and the SEIU Capital Stewardship Program, with support from the Initiative for Responsible Investment at Harvard University and the Croatan Institute. This report was made possible thanks to generous support from the V. K. Rasmussen Foundation.

Charrette Participants

Steve Abrecht, SEIU Master Trust
Sharon Alpert, Surdna Foundation
Andrew Behar, As You Sow
Derek Chin, Tides
Kevin Doyle, SEIU Master Trust
Georges Dyer, Intentional Endowments Network
Mary Beth Gallagher, Tri-State Coalition for Responsible Investment
George Hanley, University of Dayton
Michael Hirschhorn, Jacob and Hilda Blaustein Foundation
Chung-Wha Hong, Grassroots International
Connie Lambert, Bricklayers
Susan Makos, Mercy Investments
Thomas McIntyre, Bricklayers
Ginny Quick, The Sierra Club Foundation
Julie Tanner, Christian Brothers Investment Services
Jainen Thayer, Oberlin College
Mariela Vargova, Rockefeller & Co.
Marc de Venoge, Surdna Foundation
Garrett Wilson, Berea College