How Chris Ailman Cemented a Legacy of ESG Activism
The long-serving CalSTRS CIO, who retires June 30, used the pension giant’s financial heft to press companies toward more sustainable paths.
Tag: Divestment
Asset Allocation
Oregon Enacts Thermal Coal Divestment Law
The COAL Act, signed this week by the governor, is expected to enact thermal coal divestments from the state’s pension fund.
Asset Allocation
Truce Over: Texas School Fund to Ax $8.5B in BlackRock Investments
Despite seeming goodwill blooming with GOP officials in Texas, the asset management firm still draws ire due to ESG considerations.
Newsmakers
NYC Pension Funds Sued for Divesting $4 Billion in Fossil-Fuel Assets
The complaint alleges breach of fiduciary duty in ‘misguided and ineffectual gesture to address climate change.’
Newsmakers
Bill Calls for Oregon to Divest From Fossil Fuels
State treasurer Tobias Read says the proposed legislation would lead to lower returns and higher employer contribution rates.
Alternatives
Op-Ed: The Climate Investment Dilemma—Divestment or Decarbonization?
FEG’s Tim O’Donnell explores the merits of engagement.
Maine Becomes First State to Pass Fossil Fuel Divestment Bill
The state pension fund has more than $1 billion invested in companies such as Chevron, Exxon, and ConocoPhillips.
The Exxon Vote: Pension Supporters Stay Onboard to Advance Change
CalPERS, CalSTRS, and NY Common helped push through outside directors at the oil leviathan, rather than unload its shares.
Asset Management Culture
Utah Endowment Considers Realignment Toward Sustainability
University’s Academic Senate approves recommendations to shift portfolio to ‘positive sustainability investments.’
Pensions
CalPERS Rejects Reinvesting in Tobacco Again
Pension plan’s investment committee votes down a second attempt from member Jason Perez to reverse its 20-year-old ban.
Endowments Embrace Net-Zero Portfolios: Is It the Future of Investment Management?
Questions remain about how to measure risks and what a proper framework looks like, but more colleges and universities are taking the plunge.
Tufts University to End Direct Investments into Coal and Tar Sands
The school will also invest up to $25 million with climate impact funds.
Asset Allocation
Two NYC Pension Funds Divesting $4 Billion from Oil Companies
The move from the largest funds under the $239.8 billion New York City Retirement Systems follows a commitment made in 2018.
Asset Management Culture
Australia’s IFM Investors Targets Net Zero Goal by 2050
The $114.6 billion fund joins a growing list of pensions and endowments aligning with the Paris Agreement target.
Asset Allocation
USS Targets Tobacco, Thermal Coal for Divestment, Exclusion
UK’s largest pension plan will shun investments, like tobacco and coal, it deems ‘financially unsuitable.’