As a private not-for-profit charitable foundation, we don’t raise funds or rely on donations from the public. Our funds come from investments made and managed by us specifically for the purpose of our philanthropic work. We strive to meet our philanthropic spending commitments now and in future, guided by high ethical standards. Increasingly, co-funding has emerged as an effective way to approach systemic challenges.
Expressing our values
Our investments are aligned with our mission, going beyond legal and regulatory compliance to express our values as well. Informed by our responsible investment guidelines, which we implement through our asset managers and partners, we aim to exclude assets that are incompatible with our values or fail to meet international standards. We seek to integrate Environmental, Social and Governance (ESG) principles and use them to guide manager selection, engaging actively to influence positive change. Our approach continually evolves, aiming to stay at the forefront of developments in responsible, ESG-driven asset management.
Getting the basics right
To assess whether an investment is in line with the guiding principles of human dignity and sustainability, we look to this list of international normative standards for a baseline. We also expect our investment managers to identify and apply other relevant codes of conduct and best practice standards in their respective fields of expertise.
Making positive choices
As well as screening our investments and asset managers that we consider run counter to our mission, we also positively seek out those that support it – leaders in their field or asset class with best-in-class ESG-driven operations. We look for attractive investments in sustainability-linked industries – for example, renewable energy, energy efficiency, sustainable transport, waste and water management. We’ve made meaningful progress in adding managers that focus on positive selection criteria and will continue to emphasise this approach. We’ve also been active in impact investing since 2014 when the Skopos impact investing fund launched, prioritising social and environmental impact over profit and supporting research to help bring this field into the mainstream.
A dedicated team
Our Investment Office has operational responsibility for managing the investment portfolio. We follow an active approach to ensure the quality, stability, liquidity and profitability of our investment portfolio for the long term, although as a Public Benefit Organisation (ANBI) we seek to preserve our purchasing power to enable the philanthropic work over time.
The Constanter Board has ultimate strategic responsibility, assisted by an Investment Committee (IC) which oversees investment activities.
“I’m excited by the challenge of enabling the philanthropic work to continue by delivering enduring returns in a manner that’s consistent with the values at the heart of Constanter.”
Fine-tuning performance
The Board has ultimate responsibility for investment management but is supported by the Investment Committee (IC) to oversee its strategy. This involves asset allocation and liability management, as well as reviewing and enhancing the performance, processes and risk profile of the portfolio. The IC also engages external investment advisors and supervises the implementation of the strategy.