Three of the city’s pension funds filed shareholder proposals seeking greater fossil-fuel transparency at six of the largest banks in North America.
According to New York City Comptroller Brad Lander, a lack of worker input was among four main concerns with the evaluation.
Climate-related initiatives struggled due to a ‘well-funded backlash’ from conservative interest groups.
The plaintiffs’ claim that Fox News’ business model included knowingly engaging in defamation ‘appears promising,’ a Delaware Chancery Court says.
Minority- and women-owned managers have beaten the city’s pension funds’ benchmarks in all asset classes since 2015.
The Occidental Petroleum-owned firm is the only company in the U.S. that still imports the toxic chemical.
Brad Lander warns that a prolonged work stoppage may harm the ‘long-term stability' of investments held by the city’s pension funds.
The returns are expected to reduce the city’s required contributions to the pension systems by approximately $550 million over the next five years.
Brad Lander also lashed out at BlackRock for appointing the CEO of the Saudi Arabian Oil Co. to its board.
The complaint alleges breach of fiduciary duty in ‘misguided and ineffectual gesture to address climate change.’
The city’s comptroller calls for disclosure of board members’ race and gender at Capital One, Las Vegas Sands, NextEra Energy and Caesars.
Shareholder proposals have been filed with Bank of America, Goldman Sachs, JPMorgan Chase and Royal Bank of Canada.
