The Office of the Chief Investment Officer of the Regents manages University of California investment funds and provides fiduciary oversight. It currently manages a portfolio of investments totalling approximately USD 152 billion, which includes retirement, endowment, and cash assets. These investments provide benefits to current and retired employees, and support the university's mission of education, research, and public service. The financial institution is organised into three sections: investment services, investment risk management and investment management.
In terms of senior leadership accountability, the responsibility for sustainability issues within Regents of the University of California lies with the board of directors. Additionally, the pension fund has a gender-balanced board of directors. Regents of the University of California has an engagement policy where it describes its approach on sustainability themes and impact topics with investees.
Regents of the University of Californiadiscloses that alignment with the Paris Agreement is one of its engagement topics. As a member of Climate Action 100+, the financial institution discloses that it collectively engages with its clients on the topic of climate change. Additionally, it provides evidence that it collectively engages with companies to which it provides financial services on the topic of their nature- and biodiversity-related impacts. The pension fund discloses the aggregate amount and share of finance it devotes to climate solutions while specifying what these solutions are.
In terms of its approach to senior leadership accountability, Regents of the University of California has an opportunity link the remuneration of its executive or management teams to sustainability performance criteria. There is no evidence that it has a public commitment to gender equality and women’s empowerment, and it could reach at least 40% female representation in the board of directors and senior leadership positions. Additionally, it could disclose the ratio of basic salary and remuneration of women to men in its total direct operations workforce for each employee category. There is no evidence that the pension fund’s engagement policy includes clear frameworks or a report detailing how the policy is applied in practice, with case studies case studies describing where it has engaged successfully or unsuccessfullywith investees.
There is no evidence that Regents of the University of California discloses a target to reach net-zero financed emissions by 2050. The pension fund has an opportunity to disclose key sectors or companies identified as priorities to engage with on climate issues, specifically alignment with the Paris Agreement. The financial institution could align its climate solutions with internationally recognised frameworks. No evidence was found regarding the financial institution’s approach to fossil fuels that spans across the fossil fuel value chain, such as the amount or share of finance it directs towards fuels, or its stance on financing companies with new fossil fuel projects. Additionally, there is no evidence that the financial institution is committed to minimising the negative impacts it has on nature and biodiversity.
There is no evidence that Regents of the University of California has a publicly available policy statement committing it to respect human rights laid out in the UN Guiding Principles. Additionally, it has an opportunity to describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its financing activities. The pension fund could disclose one or more channels/mechanisms, or participates in a third-party or shared mechanism, accessible to all workers, external individuals and communities to raise human rights complaints or concerns related to the financial institution. To provide transparency on financial inclusivity, the financial institution has an opportunity to disclose the amount of finance directed towards, for example, women-owned businesses, small- and medium-sized enterprises (SMEs) or low-income developing countries.
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United States of America
Revenue: USD 41.18 billion; Total assets: USD 15.36 billion