Pensions
Voting Support for NYC Pension Proxy Proposals Continues to Wane
Only 21% of proposals that went to a vote were supported by shareholders, down from 35% in 2022.
Tag: Brad Lander
Manager Selection
NYC Pensions Counter Anti-DEI Rhetoric With $23.1B Invested in Diverse Firms
CIO Steven Meier aims to set a ‘powerful example’ that diversity is fundamental to fiduciary duty.
Pensions
NYCERS Becomes 89th Member of Net-Zero Asset Owner Alliance
Only seven other U.S. institutional investors have joined the group, which aims to align its portfolios to meet the Paris Agreement’s climate targets.
Alternatives
NYC Comptroller Lander Proposes Excluding Fossil Fuels From Future Infrastructure, Private Equity Investments
The proposal for three New York City pension funds would expand divestment to fossil fuel reserve owners and private markets infrastructure, such as pipelines and distribution terminals.
Newsmakers
NYC Comptroller Brad Lander Disrupted by Climate Protestors at CII Conference
Despite the disruption, Lander hailed the New York City pension system's climate record.
News
Public Equities, AI Tech Firms Spur 10% Rise for NYC’s Pension Funds
The aggregate value of the city’s five pension funds rose to more than $274 billion in fiscal 2024.
Pensions
NYC Pension Adopts ‘First in Nation’ Guidelines for Private Real Estate Investments
The Responsible Property Management Standards are intended to increase the quality and sustainability of residential real estate investments across seven core principles.
Pensions
NYC Pensions Fail to Persuade BlackRock Shareholders to Eject Aramco CEO From Board
Despite objections, Amin Nasser was not only overwhelmingly re-elected to BlackRock’s board, but he received nearly 3 million more votes than Chairman Larry Fink.
Asset Allocation
NYC Pensions Invests $60M for 25% Stake in Affordable Housing Joint Venture
Community Stabilization Partners was created after the 2023 collapse of Signature Bank to help support rent-stabilized apartments.
Pensions
NYC Pensions Oppose Tesla Executive Pay Package
New York City Comptroller Brad Lander and seven other investment firms oppose Elon Musk’s proposed $56 billion pay package.
Pensions
Bank of America, Goldman Sachs, Morgan Stanley Accused of Delaying on Clean Energy Financing Disclosure
NYC Comptroller seeks annual disclosure of each banks’ ratio of clean energy supply financing to fossil fuel energy supply financing.
Pensions
NYC Pensions Negotiate Worker Safety Deals With Major Telecoms Companies
SBA Communications, American Tower, and Crown Castle have agreed to increase disclosures about tower site safety.
Corporate Moves
NYC Pensions Reach Climate Disclosure Deal With JPMorgan Chase, Citigroup, RBC
City Comptroller Brad Lander said he expects energy supply ratio disclosure will become a ‘new standard’ for the banking sector.
Asset Allocation
NYC Pension Funds Seek Board Demographics From NextEra Energy, GameStop
Shareholder proposals filed by three funds contend that board diversity improves decisionmaking, transparency and accountability.
Newsmakers
NYC Comptroller Says Apple’s Workers’ Rights Assessment Lacks Credibility.
Brad Lander said a report by law firm Jenner & Block lacks rigor, expertise and worker input.