BMES invests in socially responsible and sustainable funds
After thorough research and deliberation, the BMES Finance Committee has acted to move some of the society's assets to investment funds that meet certain sustainability, eco-friendly and socially responsible criteria.The BMES Board of Directors instructed the committee to pursue this investment strategy that mirrors a similar strategy being used at many universities and institutions.
BMES invested in two funds: TIAA-CREF Social Choice Equity Fund and Northern Trust Global Sustainability Index Fund.
According to TIAA, the fund is designed to provide competitive, long-term gains, while it “favors companies that are strong stewards of the environment, devoted to serving local communities and society in general, committed to high labor standards for their own employees and those in the supply chain, dedicated to producing high quality and safe products, and managing their companies in an exemplary and ethical manner.”
Similarly, the Northern Trust fund aims for long-term gains while investing in companies that “adhere to widely accepted sustainability principles can help protect the environment and foster more favorable living conditions for future generations.”
The goal of this move was for BMES to support investments and industries that reflect members' interests in technologies for sustainability and healthcare, according to Finance Committee Chair Jane Grande-Allen.
About 7% of the Society's Long Term Fund were invested in these two funds. The committee and board of directors will continue to monitor these, and all of, the Society's investments and consider additional investment options in the future.