Month: April 2024

Ducks Unlimited (DU) is on an admirable mission to conserve, restore and manage wetlands and associated habitats for millions of North America’s waterfowl. From the Great Salt Lake in Utah to floodplains in Washington and prairies in North Dakota, DU is advancing multiple projects that will improve wildlife habitats.

“Wetlands are incredibly important, and we’ve lost so many of them over the years in this country,” said Jessop Boden, Ducks Unlimited Director of Development. “That’s why it’s critical we protect the ones we still have.”

To help further its mission, DU, the world’s leader in wetlands and waterfowl conservation, partnered with Marathon Petroleum Corporation (MPC) to advance projects across several states, using multiple grants provided by MPC.

Rebuilding in Utah

One of the larger projects where MPC’s grant money is already making a positive impact is at Ogden Bay Waterfowl Management Area in Utah, part of the Great Salt Lake Initiative. DU used part of a $100,000 community investment grant from MPC to rebuild sections of a severely eroded levee system on the shores of the Great Salt Lake. The donation also helped DU secure a North American Wetlands Conservation Act (NAWCA) grant, federal funding that required private philanthropic support to receive.

“The investment by MPC is helping us pursue our mission by supporting these projects designed to ensure the future of these critical habitats, while also making sure they function properly,” said Boden.

In total, the $100,000 in grant money from MPC is supporting three projects in Utah that focus on wetlands conservation.

Ogden Bay Waterfowl Management Area, Hooper, UtahBear River wetlands, Brigham, UtahBear River Duck Club, Brigham, Utah

“Levees and water-control structures are all critical infrastructure to manage our wetlands and control water, and this specific project was our first in Utah in over 10 years,” said Coryna Hebert, DU Regional Biologist. “Had nothing been done, and due to the speed at which the levee system was eroding, we were about to lose 2,000 acres of emergent marsh habitat.”

The marsh habitat helps during times of drought and flooding and supports a much larger ecosystem. DU estimates more than 5 million shorebirds and up to 4 million waterfowl use this region annually, making it one of the most important wetland complexes in North America.

“This place, Great Salt Lake and the area around it, is really a rest stop, an oasis in the desert for all sorts of migratory species,” said Casey Snider, Ducks Unlimited Water Outreach Specialist. “The work we’re doing here will impact the entire intermountain west.”

“Ducks Unlimited does such important work preserving critical elements of our natural environment, and Marathon is happy to support their efforts,” said Brad Shafer, MPC Government Affairs Manager, a key player in the partnership with DU. “Because of our long-time presence in the community here, it is important to us that we invest to sustain habitats like these for generations to come.”

Restoration in the Pacific Northwest

MPC also gave DU $221,000 that was raised at the company’s 2022 charity golf tournament in San Antonio. DU is using that grant to complete four similar projects in Washington state.

Red Creek Floodplain Restoration, Skagit County, WashingtonNookachamps Floodplain Restoration, Skagit County, WashingtonGuemes Island Wetland Restoration and Habitat Improvement, Skagit County, WashingtonLeading Restoration and Public Access Planning at Ebey Island

“Combined, these four completed projects could ultimately lead to restoration of nearly 1,000 acres in Washington, including near Marathon Petroleum’s refinery in Anacortes,” Boden said. “These projects in Washington will not only improve habitat for fish, waterfowl and wildlife but will also positively impact water quality and quantity for people across the Pacific Northwest.”

Park development in North Dakota

Most recently, MPC provided DU with a $40,000 grant to support a project at Clairmont Family Conservation Park in Bismarck, North Dakota. DU has partnered with Bismarck Parks and Recreation District to develop a 117-acre nature-based park, which includes wetland and prairie restoration areas. Previously, MPC’s refinery in Mandan, North Dakota, provided DU with a $5,000 gift earmarked for the park.

Wetlands:

Areas that are periodically flooded and under normal conditions contain plants that require saturated soils for growth. Wetlands provide habitat for more than 900 species of plants and animals. They also provide a host of benefits to people, including flood prevention, water quality improvement, coastal storm buffering, groundwater replenishment and recreational opportunities. Source: DU

Fact:

DU has conserved more than 18 million acres since 1937.

The majority of asset owners in the U.S. retain investment firms, both privately-owned and publicly-traded, to assist in managing investments across various asset classes. These asset owners (mainly fiduciaries) include state, city, and other public retirement systems with beneficiaries to protect with health benefit plans and reliable income in retirement. Collectively, this part of the capital markets is significant, with the U.S. Census Bureau estimating that 300 state plans and several thousand local plans have total assets of more than US$5 trillion.

California, the land of superlatives, of course has the largest retirement system in the U.S. This is CalPERS, the California Public Employees Retirement System, with 2.2 members in the retirement system and 1.5 million members and families in the health program. CalPERS AUM was as of its last financial report on June 30, 2023, was US$485 billion. The investments made by the plan are central to CalPERS staying power, with 56% of income over the last 20 years coming from investment earnings; 11% coming from plan member dues; and 33% from state public sector employers paying into the system.

CalPERS, which is the subject of our Top Story, is an important player in sustainable investment, setting an example through its leadership in both investing and operations. As the systems’ managers note, “We take sustainability seriously. It’s woven into the fabric of everything we do, whether it’s in our business practices or in our investment strategy.” For example, CalPERS headquarters at Lincoln Plaza in Sacramento is a green building complex – a “testament to being stewards of conservation and a leader in sustainable operations.”

CalPERS’ sustainable operations include a bike share program, paper reduction, mileage/emissions reduction, a decarbonization plan, EVs and charging stations, and The Climate Registry (with third party verification of GHG emissions, which has helped to reduce its GHG inventory against the 2010 benchmark).

On the investment side, CalPERS’ sustainable investment program includes integration of ESG risk and opportunities in investment decision-making. Over the years, the pioneering CalPERS Corporate Governance Principles evolved from a guide to corporate proxy voting in the public markets to a broader statement of the board and management’s views on best practices for guiding engagement with companies to understand, mitigate, and manage ESG risks and opportunities; shaping the advocacy agenda with public policy makers and standard setters on topics that could affect returns; and setting expectations for both internal and external (retained) managers.

In the present environment of right-wing pushback on ESG and DEI, CalPERS is staying the course. As CalPERS describes its efforts, managers consider that long-term value creation requires the effective management of three forms of capital – Financial, Physical, Human, all part of its economic approach to sustainable investment. You can learn more here.

G&A Institute will continue to monitor trends in sustainable investing and looks forward to keeping you updated on the activities of major asset owners and asset managers.

This is just the introduction of G&A’s Sustainability Highlights newsletter this week. Click here to view the full issue.