NYC Pension Funds to Double Green Investments
The three-year plan will see the five-fund retirement system’s climate-related holdings go to $4 billion.
Newsmakers
Institutional Investors Attack Climate Change by Responsible Investing
Representatives of pension plans and asset managers describe effort to Invest in ESG strategies at annual Principles of Responsible Investing conference.
Legal & General, British Airways Cut Largest UK Bulk Annuity Deal
The financial services company will take over $5.7 billion of the airline’s pension liabilities.
Gore Calls on Institutional Investors to Adopt ESG Focus
At PRI annual conference, the former US vice president says ESG investing is needed to combat climate change.
Kentucky Supreme Court Pension Hearing to Air on State Television
In the second televised high-court case, opponents A.G. Beshear and Gov. Bevin will testify.
Struggling Cincinnati Pension Plan Applies for Benefits Reduction
Laborers Local No. 265 is seeking a flat reduction of 40% of benefits.
PRI Leader Calls on Institutional Investors to Take Climate Change Action
Fiona Reynolds warns that government action will occur if institutional investors don’t ramp up climate change investment initiatives.
CIO Announces Innovation Awards Finalists for Dec. 13 Gala
Ninth annual Innovation Awards nominees list was honed by asset owners and consultants representing $1.8 trillion in assets under management.
Connecticut Study Group Eyes Possible Ways to Plug State’s Pension Gap
Officials point to state lotto, real estate, and benefits changes to help decrease the $127.8 billion shortfall.
Greece’s Pension Cuts, Tax Hikes Are Now Unnecessary, Says PM
Alexis Tsipras’ post-bailout plans will depend on the European Commission’s approval once it gets Greece’s economic projections.
Norges Bank Gets Stricter on Ocean Sustainability Policies
The world’s largest sovereign wealth fund will base its ocean policies on international standards.
Putin’s Pension Amendments Reach State Duma
Reforms must be approved in next two readings and upper house before president can make them law.
Australian PM Axes Former Administration’s Pension Age Increase
Scott Morrison said Tony Abbott’s age 70 hike will not happen, holding the retirement age limit at 67.
No Plans to Cut IPERS Benefits, Iowa Gov. Says
Opponents say Kim Reynolds’ administration secretly wants to move IPERS members into hybrid benefit plans.
Treasury Dept. Approves Benefits Reduction for Two Pension Funds
Total number of funds cleared to enact benefits reductions rises to seven.