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: New York City Employees’ Retirement System (NYCERS)
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.
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.
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.
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.
Asset Allocation
NYC Retirement System’s Steven Meier on Rates, Risks and Opportunities in 2024
The CIO looks to ‘critical trends’ of decarbonization, deglobalization and demographic dynamics as portfolio drivers over the next 10 years.
Pensions
NYC Comptroller: Major Banks Neglect Their Own Net Zero Goals
Three of the city’s pension funds filed shareholder proposals seeking greater fossil-fuel transparency at six of the largest banks in North America.
Pensions
NYC-Led Investor Group Pans Starbucks’ Workers’ Rights Assessment
According to New York City Comptroller Brad Lander, a lack of worker input was among four main concerns with the evaluation.
Pensions
New York City Pension Funds Report Calls 2023 ‘Difficult Year’ for Shareholder Proposals
Climate-related initiatives struggled due to a ‘well-funded backlash’ from conservative interest groups.
Manager Selection
NYC Pensions Increase Allocation to Emerging Managers Following Outperformance
Minority- and women-owned managers have beaten the city’s pension funds’ benchmarks in all asset classes since 2015.