Market Moves
CalSTRS Votes Against Record Number of Boards in 2024
The $341 billion pension giant opposed more than 2,200 boards of directors in proxy voting this year, mainly on climate risk disclosure.
Tag: Greenhouse Gas Emissions
Research
Economic Damage From Climate Change Could Dent Global Income by 19% Over 25 Years
Study also finds that the costs of climate change damage is significantly more than the cost to limit global warming.
Regulation
UK Pension Regulator Sets Targets for Reaching Net Zero by 2030, 2050
TPR said it will aim to eliminate up to 90% of emissions, while offsetting the remaining 10% with carbon credits.
Risk
Institutional Investor Group Urges Asset Managers to Deliver on Climate Strategies
A U.N.-backed alliance with $9.5 trillion in AUM warns that the entire global economic system is at risk from climate change.
Pensions
Norway’s SWF: Stop Talking, Take Action on Climate Transition
The $1.4T Norges Bank Investment Management has increased its climate expectations for more than 9,000 companies in its portfolio.
Pensions
CalSTRS Punishes Directors at More Than 2,000 Firms for Weak Climate Risk Disclosure
The $315.6 billion pension giant expects portfolio companies to disclose Scope 1 and 2 emissions, at a minimum.
Newsmakers
Norway’s Sovereign Wealth Fund Backs Shell, Votes Against Chevron, ExxonMobil on Climate Proposals
Fund manager Norges Bank Investment Management sided with Shell in rejecting a proposal to align greenhouse gas targets with the Paris agreement.
Asset Allocation
New York Common Commits More Than $600 Million in March Investments
The pension giant also signed deals with four firms to reduce greenhouse gas emissions.
Newsmakers
NYC Pension Funds Call for Greenhouse Gas Disclosure From 4 Major Banks
Shareholder proposals have been filed with Bank of America, Goldman Sachs, JPMorgan Chase and Royal Bank of Canada.
Asset Allocation
Canadian Pension Giant Aims to Close Net-Zero Reality Gap
CPPIB releases framework to help companies meet net-zero goals using reliable data and disclosures.
Asset Allocation
Canadian Pension Giant Expects Carbon Neutral Internal Ops by 2023
The $392 billion CPPIB also said it will nearly double its investments in green and transition assets by 2030.
Asset Allocation
Northwestern Sets New Fossil Fuel Investment Guidelines
The university says it will also boost investments in cleaner energy companies.
Newsmakers
CPPIB Targets Net-Zero by 2050
The $433.6 billion pension giant plans to nearly double its green and transition investments to over $100 billion by 2030.
Newsmakers
CalPERS’ Project to Measure ESG in Private Equity Has 100 Organizations, $8 Trillion Participating
Environmental, social, and governance investing is notoriously difficult to measure in a private equity context.
Asset Allocation
NY Pension Shifts Global Equity Assets to Alts
The New York State Common Retirement Fund has also committed $2 billion to a climate transition index.