Pensions
New York City Takes ‘Major Next Step’ on Fossil Fuel Divestments
City hires Meketa Investment Group to develop divestment plan by end of year, citing federal inaction on climate change.
Tag: Divestment
Asset Allocation
More Than Half of UK Public Universities Commit to Divest Fossil Fuel
Divestment campaign gathers steam with 79 universities signing on since 2014.
Asset Allocation
CalSTRS Rejects Fossil Fuel Divestment
A report details CalSTRS policy of engaging fossil fuel companies rather than dumping their stock, which it sees as a last resort and potentially harmful to the portfolio.
Asset Allocation
NYC and London Mayors Urge Global Cities to Divest from Fossil Fuels
Mayors Bill DeBlasio and Sadiq Khan implore that ‘time is running out’ on climate change; provide a toolkit for divestment.
Asset Allocation
University of British Columbia to Divest C$380 Million from Fossil Fuels
President declares climate emergency, but activists say it isn’t enough.
Asset Allocation
CalPERS CIO: No Divestment of Fossil Fuel Companies
Addressing climate change advocates directly, Ben Meng says divestment is not the fiscally sound path.
Regulation
Connecticut Moves to Embrace ‘First-of-its-Kind’ Gun Divestment Policy
State treasury plans to divest from civilian gun manufacturers to mitigate the national gun violence crisis.
Risk
Fisher Fallout Could Top $2.6 Billion
Investors continue to divest from Fisher Investments after founder’s allegedly sexist remarks.
Asset Allocation
Norway’s Pension Fund Divests from Upstream Energy Companies
The Scandinavian country is the latest entity to run scared from oil-dependent firms.
Risk
California Pensions Could Be Mandated to Divest from Turkish Assets over WWI Atrocities
Legislation condemning Turkey for its failure to recognize the Armenian Genocide would result in California divestments.
Risk
University of California Endowment, Pension to Divest All Fossil Fuels
CIO and investments chairman say faculty, student protests did not push the decision.
Newsmakers
ExxonMobil, Shell Among 10 Oil companies Dumped By Danish Pension Fund
The move is part of MP Pension’s 2020 ESG plans, which favor the Paris Agreement.
Newsmakers
California State Controller Eyes CalPERS Private Prison Divestment
The issue of CalPERS divesting from private prison companies CoreCivic and The GEO Group isn’t dead after all.
Denmark’s PenSam Excludes 26 More Oil Firms
Fund keeps Shell and BP for now, but it will still watch the companies it did not divest from to see if—and how—their ESG efforts are improving.
Newsmakers
Wide Index Use Means ESG-Minded Investors Own Private Prison Stocks
That’s how lock-up companies, in poor odor lately, end up in top pension portfolios.