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Britain Secretary of Energy: Investing in Fossil Fuels Big Risk for Pension Funds

Last week the advisory board of one of the largest asset owners in the world, the $857.1 billion Norway Pension Fund Global, concluded that divesting from fossil fuels would be an unwise financial decision that would reduce returns. But Edward Davey, Britain’s Secretary of State for Energy and Climate Change, said Monday he thinks fossil fuel companies ...
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Pension Advisory Board: Divesting From Fossil Fuels Will Harm Future Returns

There have been calls from many corners in recent months and years for pension funds and other institutional investors to begin divesting from fossil fuel-based investments. But not many institutional investors have heeded that call, choosing instead to use their sway as major shareholders to work with companies. One of the largest asset holders in ...
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CalSTRS Stepped Up “Green” Bond-Buying By 300 Percent In 2014

CalSTRS released its Green Initiative Task Force report on Wednesday. The report highlights the pension fund’s “environmental-themed investments” and risk-management efforts related to climate change. The report reveals that it increased its purchases of “green bonds” by 300 percent in 2014. Investopedia defines a “green bond”: These ...
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NYC Comptroller Explains Boardroom Accountability Project in Open Letter

New York City Comptroller Scott Stringer is pushing corporations to give their biggest investors – often pension funds – more power over corporate boardrooms. Stringer says pension funds can use their leverage as large shareholders to rein in excessive executive compensation and make corporate boards more diverse. From a piece written by Stringer ...
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CalPERS, New York Pensions Lead Push To Give Largest Shareholders More Control Over Corporate Boardrooms

Pension funds are often among a corporation’s largest shareholders, a position that gives them unique ability to influence corporate decision-making and governance. But a handful of the nation’s largest public pension funds are leading a push for more oversight over corporate governance – namely, the ability to hire and fire a company’s director. From ...
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An Optimist’s View of Long-Termism In Institutional Investing

Investments & Pensions Europe released a survey today indicating that three of every four pension funds consider themselves long term investors. But they disagreed on the specifics of long-termism. In light of the survey, here’s an article by Theresa Whitmarsh, Executive Director of the Washington State Investment Board, discussing how pension ...
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Video: CalPERS CIO Talks Hedge Fund Exit, Market Risk of Climate Change and Corporate Tax Avoidance

The above video features an interview with CalPERS chief investment officer Ted Eliopoulos. Topics include CalPERS’ hedge fund exit, the fund’s stance on corporate tax avoidance, and how climate change has impacted the fund’s portfolio. Ai-CIO.com summarizes a few key points from the interview. On hedge funds: “One of our prime ...
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CalSTRS: Financial Risk of Climate Change “Very Real” For Institutional Investors

CalSTRS has been one of the most active (and vocal) pension funds in the world this year when it comes to exploring the financial risk of climate change. The fund announced last month it was joining forces with Mercer and a handful of other pension funds to study the market impact of climate change. Now, CalSTRS has commented on a new report showing ...
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Swedish Pension Divests From 20 Fossil Fuel Companies

One of Sweden’s largest pension funds has announced it plans to divest from $116 million worth of fossil fuel-related holdings. In an effort to ward off the “financial risk” of climate change, Sweden’s AP2 will cut 20 gas, oil and coal companies from its portfolio. From Chief Investment Officer: [AP2] is cutting 12 coal companies and eight ...
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How Should Investors Manage Climate Change Risk?

CalPERS is measuring the carbon footprint of its portfolio. CalSTRS is helping to fund a study on the market impact of climate change. For the first time, institutional investors are beginning to wonder: How will climate change impact the value of our investments? Howard Covington of Cambridge University and Raj Thamotheram of the Network for Sustainable ...
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