This report focuses on impact and ESG investing to share how our investment team thinks about the non-financial returns from our portfolio. Impact and ESG investment metrics remain a work in progress across the industry. Over time, Agility and the RBF have adopted an increasingly more comprehensive lens to assess the non-financial outcomes of our mission-aligned investments. The report details the RBF's 2021 transition to a multi-pronged approach to impact and ESG metrics, including:
- Considering both qualitative and quantitative data, recognizing that impacts can be positive or negative.
- Using the Global Impact Investing Network (GIIN) IRIS+ catalog of generally accepted impact performance metrics to measure social, environmental, and financial success.
- Adopting the United Nation's 17 Sustainable Development Goals (SDGs), which many have seen as an industry standard, as a method for categorizing ESG and impact goals.
- Actively engaging with industry coalitions and efforts to further standardize ESG and impact metrics.
Aligning our endowment with our mission extends beyond the investments in the portfolio to other steps we, as investors, can take to influence corporations, fund managers, and other asset owners. The report also details our focus areas for intended impact, areas of growth, and shareholder engagement activities. The RBF developed and implemented revised proxy voting guidelines in 2017 and partners with Agility and Institutional Shareholder Services, Inc., in the implementation and subsequent reporting phases of shareholder engagement and proxy voting. The RBF exercised its proxy votes on a range of issues in 2021, including human rights, workplace and board diversity, sustainability and climate change, and others. The report shows how RBF proxy voting reflects and builds on larger trends in shareholder engagement over the last several years.