Queen’s University’s second annual Responsible Investing Report continues to demonstrate progress implementing the university’s ambitious carbon reduction strategy across Queen’s $2.1 billion portfolio of assets in its Pooled Endowment Fund and Pooled Investment Fund.

The university has reduced the carbon footprint of its Pooled Endowment Fund by five per cent over the two years since implementing its strategy, placing it at six per cent below its MSCI All Country World Index benchmark. Its Pooled Investment Fund came in at 13 per cent below the benchmark. The university’s objective is to be 25 per cent below the benchmark by 2030, acknowledging that, as expected, results from year to year have not moved in a straight line.

A key component of the university’s Responsible Investment Strategy is an energy-transition allocation within the Pooled Endowment Fund, called the Queen’s Climate Action Allocation (QCAA). This investment allocation is comprised of funds with low carbon emissions (or they have a credible plan for achieving net zero emissions) and can include holdings in renewable energy; low-carbon funds; carbon capture and other sustainability-driven technologies; and sustainable real estate.

Queen’s Responsible Investing Policy, approved by the Board of Trustees in May 2017, formally recognizes that awareness and the effective management of ESG-related risks and opportunities may improve the long-term performance of its investments.

Queen’s has pledged to be a leader in global transition towards net zero carbon footprints, by committing to decarbonize at a rate that is significantly faster than the broader global market. This policy does not target a single industry, rather it focuses on the economy as a whole.

Queen’s continues to act on responsible investing. In 2022, Queen’s became a signatory to the United Nations-supported Principles for Responsible Investment (UNPRI), and is committed to ensuring ESG factors are fully incorporated into our investment process. Queen’s is currently reviewing its Responsible Investing Policy through a UNPRI lens.

The university’s first UNPRI report will be available later this year, further enhancing its sector-leading level of transparency that is demonstrated with the public posting of investment holdings and detailed investment manager environmental, social, and governance (ESG) annual reports.

The Responsible Investing Report is available on Queen’s Responsible Investing website.