Top 10 charities in England and Wales by investments – 18 October 2024 via Charity Commission [https://register-of-charities.charitycommission.gov.uk/en/sector-data/top-10-charities]
| Wellcome Trust | Investments: £39.3 billion |
| Link to Responsible Investment Policy: https://wellcome.org/who-we-are/investments/responsible-investment-and-stewardship | |
| Points of interest: Only explicit exclusion is no direct investment in tobacco Driving down carbon emissions: our net zero strategy for our investment portfolio | |
| Church Commissioners for England | Investments: £10 billion |
| Link to Responsible Investment Policy: https://www.churchofengland.org/sites/default/files/2024-04/ccfe-responsible-and-ethical-investment-policy-2024-public-version-23apr2024.pdf | |
| Points of interest: Consider their investments in line with Christian values and exclude companies that are active in spaces and sectors which they feel a moral responsibility to avoid Church Commissioners for England – Integrating Human Rights into responsible investment Church Commissioners for England – Climate Action Plan | |
| Garfield Weston Foundation | Investments: £8.3 billion |
| Link to Responsible Investment Policy: None found on website | |
| Points of interest: 2023 Accounts and Report state: “The Trustees are satisfied that the two investment managers have suitable policies in place regarding their stock selection to ensure that this complies with the latest ESG practices and they continue to keep this under review. The Trustees’ principal investment, namely Associated British Foods plc, is a highly diversified global company with an extensive and practical approach to responsible business. The Trustees have a direct line of sight into this business, making the Foundation’s approach to responsible investment more transparent and with a higher degree of clarity than other models might afford.” | |
| The Children’s Investment Fund Foundation (UK) | Investments: £4.7 billion |
| Link to Responsible Investment Policy: https://ciff.org/about-us/endowment/ | |
| Points of interest: As well as negative screens re. tobacco, fossil fuels and arms they also exclude companies which market breast milk substitutes (unless they have committed to adopt the World Health Organisation’s International Code of Marketing Breast Milk Substitutes.) | |
| The Leverhulme Trust | Investments: £3.8 billion |
| Link to Responsible Investment Policy: None found on website | |
| Points of interest: Found in 2023 Annual Report and Financial Statements: The Trust incorporates responsible investment best practices into investment decision making, It believes that by engaging in a broad set of extra-financial considerations – including environmental, social and governance (ESG) issues – the long-term financial performance of the portfolio can be sustained with potential for improvement. The Trust’s approach is to operate a set of principles that reflect its values and to apply them with common sense and a measure of pragmatism and to ensure it remains cognisant of changes and trends in investment markets and in society at large. It seeks impact through its grant giving for academic scholarship. The investment of its funds to provide these scholarships means that investment decisions are predominantly driven by economic return | |
| Trinity College Cambridge | Investments: £2.2 billion |
| Link to Responsible Investment Policy: No direct link found on website but reference made to investment policy in other articles/documents | |
| Points of interest: In 2023 Annual Report and Accounts under Investment Policy: The investments of the College have two objectives: to achieve a long-term total return of CPI +5%, and to have a significant, lasting and positive impact on the environment, including achieving net zero by 2050. Various articles refer to the endowment having a dual mandate: “continuing to deliver sustainable long-run return and committing to improving its environmental footprint and achieving net zero before 2050.” Update on Responsible Investment article: Update on responsible investment – Trinity College Cambridge references divestment from all fossil fuel exposure in public equities | |
| Motability | Investments: £2.1 billion |
| Link to Responsible Investment Policy: None found on website | |
| Points of interest: In 2023 Annual Report and Accounts – “The Motability Foundation and MET pursue these investment policies that have an aligned approach to responsible investment.” “The appointed managers’ Ethical, Social and Governance policies and investment processes have been reviewed during the year.” | |
| SUTL Cazenove Charity Non-UCITS Fund | Investments: £1.8 billion |
| Link to further information: https://www.cazenovecapital.com/en-gb/uk/charity/what-we-offer/charity-authorised-investment-funds/ | |
| Note: The SUTL Cazenove Charity Non-UCITS Fund (the “Trust”) is an umbrella non-UCITS unit trust. The Trust currently operates two sub-trusts: The SUTL Cazenove Charity Multi-Asset Fund and the SUTL Cazenove Charity Responsible Multi-Asset Fund. The Trust is established exclusively to further the charitable purposes of the charities that directly or indirectly hold units in the sub-trusts. | |
| Bridge House Estates (now City Bridge Foundation) | Investments: £1.7 billion |
| Link to Responsible Investment Policy: https://www.citybridgefoundation.org.uk/what-we-do/investments | |
| Points of interest: Their Social Investment Fund invests in enterprises and markets that achieve social impact and provide financial return. £20m is set aside for this type of investment. More information: https://www.citybridgefoundation.org.uk/funding/social-investment-fund | |
| The National Trust | Investments: £1.6 billion |
| Link to Responsible Investment Policy: https://www.nationaltrustjobs.org.uk/index.php/download_file/force/1133/ | |
| Points of interest: “For the Trust, reaching net-zero emissions had to go beyond their operations and also include their investment portfolio. They decided to put their £1 billion plus investment portfolio to work as well, by divesting from fossil fuels, investing for positive climate outcomes, actively engaging with their investment managers, and by influencing other investors and the broader finance community to do the same.” – Extract from https://www.cambridgeassociates.com/en-eu/client-spotlights/national-trust/ | |