Asset Allocation
AP7 Dumps $1.3B in Tesla Stock Over Workers’ Rights at 4-Month High
Sweden’s second-largest pension showed that divesting for ESG purposes doesn’t require taking a loss.
Tag: Divestment
Asset Allocation
Pennsylvania Pension Fund Seeks Divestment of Tesla Shares
The board of Lehigh County’s pension fund has paused purchases of the company's stock and seeks a full divestment.
Manager Selection
UK Pension Replaces State Street With Invesco, Amundi for $35B Mandate
The $40 billion People’s Pension’s moved the vast majority of its assets away from State Street Global Advisors to stay aligned with the fund’s responsible-investment policy.
Pensions
Oregon Bill Would Ban State Pension Investments in Private Markets Funds Invested in Fossil Fuels
Senate Bill 681 would prohibit the state treasurer from renewing or making investments in private equity or other alternative funds which state an intention to invest in fossil fuels.
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.
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.