Key
Working with our investment advisors, we developed a straightforward framework encompassing the range of tools we use and the impact we seek to realize across our portfolio. It includes five levels with increasingly greater mission alignment and intentional, measurable, and quantifiable impact.
For us, this framework optimizes structure and consistency for asset allocation (or reallocation) and streamlines decisions in a way that evolves with our mission and objectives.
Level 1: Negative Screening
We use “negative screens” on securities or industries to avoid investments that run counter to our mission, including fossil fuels and highly carbon intensive industries that can harm the environment.
Level 2: Positive Screening and Shareholder Engagement
We also use “positive screens” or “tilts” to overweight our portfolio towards certain investments such as clean technology. The large exposure for this part of the portfolio is passive investments or an index-based approach. As shareholders, we take advantage of voting proxies and co-filing corporate resolutions on topics that support our mission.
Level 3: Sustainability Integration
A significant portion of the portfolio is structured around investment strategies that integrate sustainability factors. For example, in response to a global trend around climate change and resource scarcity, we seek to invest in companies that lower greenhouse gas emissions and increase food production in climate sensitive ways. The exposure for this part of the portfolio is active management, and includes public equities, fixed income, and alternative investments.
Level 4: Thematic/Place-Based Investing
We use “thematic investing” to further focus our portfolio on specific categories that align with our mission, such as sustainable forestry, agriculture, clean tech, equity, inclusion, affordable housing, etc. We also make investments that are “place-based” – deploying capital to the Pacific Northwest region, which is where we do a majority of grant making in fulfillment of our mission.
Level 5: Capacity Building/Program-Related Investments
Our investing strategy allows for smaller “catalytic” investment opportunities that have the potential for outsized environmental or social returns. These investments may be higher risk or might have lower return expectations in the short term; but we consider them to be truly innovative and transformative business models. Included in this bucket are first-time funds, direct investments, and new business models that advance social and environmental goals.
Our Impact Investments
The following is a representative sample of TRFF impact investments as of April 10, 2024.
Each investment falls along our “Spectrum of Impact” levels as defined in the key above.
A sustainable, fossil free fixed income strategy with ESG/low-carbon tilts
$10,196,101
A fossil-free, low-carbon passive mandate that is 80% less carbon intensive than its benchmark, the Russell 3000
$14,241,137
Seed, venture, and growth stage accelerator investing in life sciences, technology, and food systems
$1,150,000
Venture Capital firm focused on changing the face of entrepreneurship by investing in 1,000 diverse founders over the next 20 years
$500,000 Commitment
Nature-based solution with a diversified pool of sustainable timberland assets
$2,300,000
Permanently capitalized company that invests in and operates sustainable infrastructure
$500,000
Growth Equity, Technology Focused
Within Global Impact Access Partnership I and II
Financial Inclusion, Emerging Markets
Within Global Impact Access Partnership II
Multi-Thematic, Low Carbon Investments
Within Global Impact Access Partnership II
Waste-to-energy, clean tech fund focused on anaerobic digestions
$1,000,000 Commitment
Global Impact Access Partnership
An access vehicle investing in private equity and venture capital strategies across environmental sustainability and socio-economic development themes
$8,000,000 Commitment
Sustainable timber and ecosystem services fund
Within Global Impact Access Partnership
Venture capital education technology fund
Within Global Impact Access Partnership II
Sustainable real assets around energy and aquaculture
Within Global Impact Access Partnership II
Sustainable real assets and electric vehicle infrastructure fund
Within Global Impact Access Partnership II
Invests in market leading growth companies in the tech, consumer, and services industries
Within Global Impact Access Partnership I and II
Seed, venture, and growth stage accelerator investing in life sciences, technology, and food systems
Within Global Impact Access Partnership II
Venture capital with a focus in Health & Wellness, Environment & Resources, Social & Economic Mobility, and Digital Impact Enablers
Within Global Impact Access Partnership I & II
Global Impact Access Partnership II
An access vehicle investing in private equity and venture capital strategies across environmental sustainability and socio-economic development themes
$4,500,000
National affordable housing fund focused on transit oriented development and energy efficiency measures
$1,000,000
Early stage financial inclusion fund in emerging markets
Within Global Impact Access Partnership
Sustainable and organic agriculture fund focused on farmland on the west coast
$2,000,000
Growth equity financial inclusion fund in emerging markets
Within Global Impact Access Partnership
Pacific Northwest sustainable forestry and ecosystem services fund
$2,000,000
Seed, venture, and growth stage accelerator investing in life sciences, technology, and food systems
$2,000,000; Within Global Impact Access Partnership
Venture Capital Renewable Energy Strategy
Within Global Impact Access Partnership
Venture capital firm investing in female technology entrepreneurs
Within Global Impact Access Partnership
Clean-tech financing investment fund
Within Global Impact Access Partnership
National affordable housing fund focused on transit oriented development and energy efficiency measures
Within Global Impact Access Partnership
Economic development in emerging and frontier markets
$500,000
Regional Community Development Financial Institution serving under-banked entrepreneurs
$500,000
Alternative to traditional cash management leaverages the community banking system to drive small business lending and community reinvestment
$58,720
Community bank aligned with B-Corp and Global Alliance for Banking on Values
$343,217
Place-based Credit Union using proceeds to meet the credit needs of underserved families
