University of Reading top the People and Planet University League as progress in sustainable investment policy is recognised
The University of Reading and Cazenove Capital have worked together since 2020. Together, they have designed a sustainable investment policy for the University that avoids investment in harmful industries and companies, and allocates capital to investments addressing some of the world's biggest challenges. The University investments are managed to a net zero aligned pathway, consistent with Cazenove Capital’s Climate Commitment. The active approach to engagement and voting encourages companies and managers to transition to climate solutions as well as promoting improvements in human rights, inclusion, and diversity.
This rigorous approach to a clearly defined sustainable investment policy, engagement and detailed climate reporting have contributed to the University's high score for ethical investment within the People & Planet University League. Furthermore, over the last three years, the University's long-term assets have outperformed the peer group by 9%.*
The University policy continues to evolve to represent and influence best practice. Earlier this month members of the University's investment committee met with Cazenove Capital’s sustainability experts to share ideas and ensure full alignment of their investments to the University's wider strategy and aims.
Emily Petersen, Portfolio Director, Cazenove Capital commented:
“We value our partnership with the University of Reading and our shared commitment to investing sustainably. I'm excited to work together on the next phase of the investment strategy, going beyond divestment from fossil fuels and using all the tools we have available to support decarbonisation. Our upcoming report in conjunction with BUFDG (British Universities Finance Directors Group) is designed to provide guidance for universities looking to incorporate their climate ambitions in their investment strategy.”
Andrew Grice, Director of Finance, University of Reading commented:
“We are delighted that our sustainability initiatives have been recognised in the People and Planet league. Our partnership with Cazenove Capital has been an important part of our progress on how and where the University invests, and we are looking to the future to make further improvements.”
*Source: Cazenove Capital, total return in GBP, net of fees. University of Reading Endowment Fund return of 15% versus ARC Steady Growth PCI £ return of 6% over the period 01.01.21 to 31.12.23. Past performance is not a guide to future performance. The value of an investment and the income from it may go down as well as up and investors may not get back the amount originally invested.
ENDS
For further information, please contact:
Estelle Bibby
Head of Marketing and Communications
+44 20 7658 3431
estelle.bibby@cazenovecapital.com
Laura Keeble
Marketing Manager
+44 20 7658 1615
laura.keeble@cazenovecapital.com
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