Community Consultation: Investment Governance Policy (B10.09), Responsible Investment Policy (B10.16), and Endowment Management Policy (GP20)

The following message is sent on behalf of Martin Pochurko, Vice-President, Finance and Administration.

Dear SFU Faculty and Staff members:

Please provide your input on the proposed amendments to SFU’s Investment Governance Policy (B10.09), Responsible Investment Policy (B10.16), and Endowment Management Policy (GP20) (http://www.sfu.ca/policies/draft.html).

Investment Governance Policy (B10.09)

SFU has established an Endowment Fund and a Non-Endowment Fund.  The assets of both funds are invested to generate investment earnings that are an important source of income for a variety of University purposes.  The successful investment management of the funds will have a direct effect on the ability of the University to achieve its academic and research goals.  SFU’s Investment Governance Policy (B10.09) describes the governance structure established for the investments in the Endowment Fund and the Non-Endowment Fund and sets out the requirements for their ongoing, successful investment management.  

Proposed amendments to B10.09 include:

1. add section 5.2.3 to reflect the University’s commitment to fossil fuel divestment;
2. amend Appendix A section 2.4 to change the Investment Advisory Committee composition from five persons to four to six persons;
3. amend Appendix C to reflect the University’s commitment to fossil fuel divestment;
4. other minor edits to improve wording and comply with new policy format.

Responsible Investment Policy (B10.16)

SFU is committed to responsible investment.  The Responsible Investment Policy (B10.16), applies to SFU’s Endowment Fund and the Non-Endowment Fund and sets out the University’s approach to incorporating environmental, social, and corporate governance (“ESG”) considerations into its investment decisions.

Proposed amendments to B10.16 include:

1. add executive summary as required by new policy format;
2. update language to reflect change from Responsible Investment Committee to Climate Action and Sustainability Committee;
3. add section 5.4.3 to reflect the University’s commitment to carbon footprint reduction;
4. add section 5.4.4 and 5.6.2 to reflect the University’s commitment to fossil fuel divestment;
5. other minor edits to improve wording and comply with new policy format.

Endowment Management Policy (GP20)

The University Endowment Fund generates investment earnings to ensure that the University is able to maintain the quantity and quality of projects and programs that are made possible through the generosity of donors. The Endowment Management Policy (GP20) establishes the framework for the management and oversight of the Endowment Fund.

Proposed amendments to GP20 include:

1. add executive summary as required by new policy format;
2. other minor edits to improve wording and comply with new policy format.

We are seeking input from SFU’s faculty and staff.  Please review the revised three policies posted on the Policy Gazette website and submit your feedback to policyconsult_vpfa@sfu.ca by August 15, 2022.

Thank you,

Martin Pochurko
Vice-President, Finance and Administration  

Input you provide is collected under the authority of the University Act and SFU’s Policy on University Policies and Procedures (B 10.00). This information is collected for the purpose of engaging in community consultation, which may result in recommended changes to a policy.  If you have any questions about the collection of this information, please contact policyconsult_vpfa@sfu.ca.