December 2023
Melissa Freeman
A premier, private institution known for its outstanding liberal arts college and top-ranked professional programs, Lewis & Clark College differentiates itself in a variety of ways, one being the dynamic Bates Center for Entrepreneurship and Leadership. Undergraduate students from all disciplines can earn a minor in entrepreneurship or participate in courses that help them to develop an entrepreneurial mindset, as well as learn how to start, manage and grow a business.
This year, the College’s Board of Trustees approved an investment in OVF XV, our five-year fund. Conversations about this strategic investment spurred us to formalize and document our policy on environmental, social and governance practices. The College’s constituents, including students, faculty, and the board, have set a high and important bar for the College to only invest in fund managers who demonstrate a commitment to: sustainability, to limiting the adverse consequences of climate change, to diversity, equity, inclusion and to good governance principles. While OVF had stated policies on diversity, equity and inclusion, and had signed on as a follower of the UN Principles for Responsible Investment since 2018, this strategic relationship with the college catalyzed our documentation of our commitment to invest responsibly.
Specifically, we added these points to our ESG Policy:
Minimize environmental impact and encourage environmental consciousness;
Promote the responsible use of resources - e.g., water, energy, natural resources;
Limit consumption of environmentally scarce and non-renewable resources;
Limit production of waste and improve recycling - e.g., through the active sorting and recycling of office and meeting waste;
No investments in companies that involve the exploration or production of oil and gas, mining, the production of toxic outputs, or are otherwise harmful to the environment and habitats.
One of OVF’s guiding principles has been to invest in companies solving difficult and consequential problems and making the world a better place. Lewis & Clark’s commitment to environmental sustainability inspired and prompted us to be more explicit and clearer about our community and fund’s commitment to furthering sustainable practices.
The benefits of this strategic relationship are already visible. We greatly appreciate the investment and nudge to better document our environmental and responsible investing commitments. We are now in process of assisting the Bates Center staff with creating opportunities for students to meet and learn from local entrepreneurs and investors who can serve as panelists, guest speakers, and judges for the Center’s programming. In January, Allie Magyar, founder and former CEO of Hubb, is slated as a panelist for a session on “Start-up Stories” and Alline Akintore, an OVF general partner, will serve as a judge at the Center’s Winterim event.
We appreciate the board’s decision to invest locally in OVF and aim to maximize their returns both financially and socially for their students. We look forward to seeing how this relationship evolves, together.