Nordic Sustainability was asked by the Louisiana Foundation to increase the sustainability ambition level of their investments such that the money invested has a more positive impact and is more aligned with Louisiana’s overarching sustainability strategy and values.
The brief
Nordic Sustainability worked collaboratively with Louisiana Foundation to discuss the meaning of responsible investment within the Foundation’s context and define the policy’s ambition level at present while considering the potential for the policy to evolve and become increasingly ambitious as the Foundation’s approach matures.
Our approach
To determine the Foundation’s ambition level, Nordic Sustainability conducted a peer benchmarking exercise of sustainable and responsible finance policies of similar institutions. After defining the ambition level and policy objectives through a collaborative session with the Foundation, Nordic Sustainability drafted the responsible investment policy. This included developing a set of minimum criteria including both revenue/sector-based and impact-based exclusions. Once the Foundation had reviewed the policy and provided feedback, Nordic Sustainability applied the amended policy to the Foundation’s holdings and provided a summary of key findings including potential divestments and suggestions for how to develop the policy’s ambition level in the future.
Result
The Foundation now has a responsible investment policy aligned with their overall sustainability approach, which enables annual screening of holdings and pre-investment due diligence.