Trustee - Finance and Investments

The Aurora Trust are seeking to appoint a new trustee with a passion and commitment for sustainability and expertise in finance and investing, including impact investing. 

The Aurora Trust is an endowed philanthropic foundation, one of the Sainsbury Family Charitable Trusts (SFCT). The objects of the Trust as given in the Trust Deed are for general charitable purposes and the Trust’s primary focus is tackling climate change through the following programme areas of giving:

·       Stopping Deforestation

·       Connecting People with Nature

·       Sustainable Farming

·       Climate Change Collaboration*

·       Ashden – Climate Solutions in Action

*Since 2009, The Aurora Trust has partnered with two other trusts, the JJ Charitable Trust and the Mark Leonard Trust in the Climate Change Collaboration. Their mission is to support efforts which help stabilise global temperatures to 1.5 degrees, restore our natural world, and support a regenerative economy through encouraging/disrupting the business-as-usual approach of our financial and investment systems.

Grant proposals to The Aurora Trust and the Climate Change Collaboration are invited or initiated by   the Trust and the AT prefers to support approaches that catalyse substantial change. During the financial year ending 4 April 2024, trustees approved 52 grants with a total value of over £2.6 million.  You can find out more about the trust and the Climate Change Collaboration on their websites.

As well as grant-making the trustees have two investment committees, one to oversee the endowment and the other to oversee an impact-first philanthropic impact investment fund that is primarily focussed on invest in Ashden Award winners and finalists. The Aurora Trust also partners with four other SFCT trusts on impact investing for commercial return. Around 15% of the endowment is invested through that process.

In 2022, trustees adopted an investment policy for their endowment, which was to align the investments with achieving the Paris Agreement goal of keeping global temperatures to well-below 2 degrees. This means excluding fossil fuels and other high carbon investments, increasing investments in renewable energy and selecting funds and companies that demonstrate alignment with the Paris Agreement. Trustees review progress against the investment policy at investment meetings.

Role Description and Responsibilities

The new trustee will take a lead on the Trust’s finance and investments, chairing the Trust endowment investment meetings (one per year) and the Philanthropic Impact Investment Fund (four meetings per year) and participating in the collaboration on impact investing for commercial return with the other SFCT trusts (two meetings per year). The new trustee will also be asked to join the annual AGM and quarterly trustee meetings. We estimate that this is a commitment of approximately 14 days a year including the time to read papers and deal with email correspondence. Meetings take place on weekdays during standard working hours. Meeting take place online or in person at the Sainsbury Family Trust office in central London.

Trustees would like to appoint someone who is committed to the charitable purposes of the Aurora Trust and has experience and knowledge in the following areas:

·       Managing impact investment portfolios to produce environmental, social and financial returns as well as general investment portfolios.

·       Investing in early-stage businesses, particularly in “sustainability” sectors, particularly in renewable energy in the UK and the global south.

·       Knowledge and interest in most/some of the Aurora Trust’s grant giving programmes 

·       Committed to the Nolan Principles of public life

·       Knowledge of charity governance and the difference between executive and non -executive roles

·       Willingness to dedicate sufficient time and effort to fulfil role