tailieunhanh - Principles of Nonprofit Investment Management

However, before private investors will commit large amounts of capital to this sector there must be transparent, long-term and certain regulations governing carbon emissions, renewable energy and energy efficiency (see Deutsche Bank‟s TLC framework). 17 Such investments will only be made if investors are able to earn adequate risk-adjusted returns and if appropriate market structures are in place to access this capital. To quote the World Economic Forum‟s report „Green Investing 2010‟ (WEF 2010), “While the world‟s investors may be ready to invest in clean energy companies and projects, they still have questions over the policy environment in which. | common iind INSTITUTE Principles of Nonprofit Investment Management The key issues facing trustees and financial officers PRINCIPLES OF NONPROFIT INVESTMENT MANAGEMENT A publication of Commonfund Institute For the Nonprofit Community Commonfund Institute is dedicated to the advancement of investment knowledge and the promotion of best financial management practices among nonprofit organizations. It serves educational institutions foundations health care institutions and other types of charities. The Institute s programs and services are designed to serve financial practitioners fiduciaries and scholars. Its programs include seminars and roundtables on such topics as nonprofit investment and treasury management publications and special events such as the Commonfund Forum. Annually the Institute undertakes proprietary and highly comprehensive research among institutions to study the practices and performance of nonprofit investment management. The research results are published in the Commonfund Benchmarks Studies and are widely used by institutions to measure their individual results against a body of peers. We are grateful to our advisory panel members whose experience and dedication to the nonprofit world helped make this brochure possible. Those we want to thank in particular are Jennifer Neppel Director of Cash and Investments for Denver s Catholic Health Initiatives Laurance Hoagland Jr. Vice President and CIO of the William and Flora Hewlett Foundation and Linda Strumpf Vice President and CIO of the Ford Foundation and member of the investment committee of Penn State University. The financial world has changed dramatically since the first edition of this brochure was published in 2001. Well-publicized stories of corporate scandals dubious trading schemes public dissensions and individual fraud have spilled out of the media into our offices and homes. Rigorous new legislative and administrative rules have been established. It would be a great mistake to think .