Investment Policy for World Resources Institute (“WRI”)

The World Resources Institute's (WRI) 2020 Investment Policy outlines a strategy to preserve the real purchasing power of its portfolio while integrating ESG and impact factors to maximize long-term returns. The policy mandates a transition to a 100% fossil fuel-free portfolio and aligns investments with the Paris Agreement. It defines a governance structure involving the Board, a Finance and Investment Committee, an Outsourced Chief Investment Officer (OCIO), and external Investment Managers, while establishing a spending rate of 4.5% based on a 12-quarter rolling average.

• WRI's investment objectives are to preserve the real purchasing power of its portfolio while achieving returns that match its risk tolerance and operational needs. To maximize long-term risk-adjusted returns, WRI integrates environmental, social, and governance (ESG) factors and impact into its endowment.
• WRI employs a sustainable investment strategy consisting of three primary goals: reducing exposure to ESG risks via passive strategies, using active managers for ESG integration to drive value, and investing in private markets to capture growth from solutions with measurable positive impacts. This approach is further detailed in a separate Climate Change Investment Statement (CCIS) aimed at aligning the portfolio with the Paris Agreement.
• The portfolio is divided into two main fund types: the Operating & Program Fund, which focuses on immediate liquidity for day-to-day expenses, and the Reserve Fund, which aims for long-term growth and preservation of purchasing power. The Reserve Fund includes the Board Designated Operating Reserve Pool and the Long Term Pool.
• WRI has established a specific goal to make its portfolio 100% fossil fuel free. This is achieved by excluding equity and fixed income investments involved in the production, refining, drilling, or exploration of coal, natural gas, and oil, including holdings within commingled vehicles like LLC structures or mutual funds.
• The management of the portfolio is distributed across several entities: the Board (and its Finance and Investment Committee) sets policy and asset allocation; an Investment Advisor (or OCIO) guides strategic allocation and selects Investment Managers; and the Investment Managers execute the strategy. WRI staff, including the CFO and the Head of Sustainable Investing, provide monitoring and sustainability analysis.
• WRI's current spending policy is to withdraw 4.5% of the preceding rolling 12-quarter average market value of the portfolio, ensuring that expenditures remain below the total inflation-adjusted return to support long-term real growth.

APA

World Resources Institute (2020). Investment Policy for World Resources Institute (“WRI”). https://files.wri.org/s3fs-public/uploads/wri-ips-october-2020_0.pdf

Chicago

World Resources Institute. Investment Policy for World Resources Institute (“WRI”). 2020. https://files.wri.org/s3fs-public/uploads/wri-ips-october-2020_0.pdf.

Wikipedia

{{cite report |author=World Resources Institute |title=Investment Policy for World Resources Institute (“WRI”) |date=October 2020 |url=https://files.wri.org/s3fs-public/uploads/wri-ips-october-2020_0.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{worldresourcesinstitute2020investment, author = {{World Resources Institute}}, title = {{Investment Policy for World Resources Institute (“WRI”)}}, institution = {World Resources Institute}, year = {2020}, month = oct, url = {https://files.wri.org/s3fs-public/uploads/wri-ips-october-2020_0.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }