A Comparative Analysis of University Investment Policies and Procedures Related to Responsible Investing

This research explores responsible investment practices at Canadian and international universities. We analyze universities' "Statement of Investment Policy and Procedures" and "Responsible Investing Policies" to understand how responsible investing is included and how this varies by region. Our results show that most university investment policies are lacking in content and specificity. We compare four different regions, Canada, the United States (USA), the United Kingdom and Ireland (UK-I) and Australia New Zealand (ANZ) in terms of responsible investment integration. We find a clear international hierarchy, with the UK-I as the most advanced region in responsible investing integration, followed by Canada and ANZ with the USA a distant last place. We develop recommendations which act as tools to help mobilize university knowledge in responsible investing, drawing on globally recognized frameworks, in two areas: governance and policy. Our recommendations are broadly applicable to any post-secondary institution and also expand to other sectors attempting to incorporate responsible investing. Implications for universities and areas for future research will be discussed.