The Investment Committee approved TIAA-CREF as the preferred variable annuity provider, with Jefferson National as an alternative. Additionally, the Investment Committee approved the removal of master limited partnerships (MLPs) from the Rainbow Portfolio. The proceeds from these MLP sales is being invested in both stocks and real estate investment trusts (REITs) proportionally. While the Investment Committee (IC) is generally in favor of capital markets as a force for good, it appreciates the many benefits that fossil fuels have brought to mankind and recognizes that today’s economy and our quality of life are still highly dependent upon them, the IC is concerned about the impact that greenhouse gas emissions, environmental pollution and climate change could have on the planet, including the intended beneficiary of the energy industry, namely mankind. Therefore, the IC’s investment bias is to emphasize those companies in each industry with the lowest emissions and other contributions to pollution and climate change, and to de-emphasize or, in some cases, divest from the most extreme carbon emitters, while maintaining as close to reasonably possible a total market coverage of asset classes, industries and companies. The IC also favors companies that support the continued development of renewable energy alternatives.
Crafting Your Ideal Charitable Giving Strategy: A Step-by-Step Guide
September 12, 2024
