New Zealand Super to Divest from Seven Gun Companies
Christchurch shootings, tighter firearm laws make for a quick decision from fund’s guardians.
Christchurch shootings, tighter firearm laws make for a quick decision from fund’s guardians.
Christina Paxson says endowment is ‘not a political instrument.’
The pension plan’s stance also means it won’t likely voluntarily divest from GEO Group and CoreCivic.
Research shows that 54% of divestitures underperformed the markets since 2010.
Norway’s pension giant has divested from 240 firms since 2012.
Fund divests one company due to human rights violations, and two for coal activities.
Selling of nukes, tobacco, coal and oil sands holdings follows new law, plus actions of sister fund.
ESG-oriented decision motivated by new law.
The review could lead to divestment of CoreCivic and The GEO Group.
Nokia, Nordea Bank lead list of 13 firms with potential ties to African nation.
A report found CalPERS missed nearly $3.6 billion in investment opportunities from 2000 decision, but other divestments have worked in its favor.
The vote to divest from CoreCivic and GEO Group was 6-5 during an emotional meeting.
The two US companies running private prisons, whose detainees including immigrants caught crossing the US-Mexico border, will no longer be part of the CalSTRS portfolio.
Stock of Hess Corp. will be divested along with other energy companies if they don’t justify oil and gas reserves and stop denying climate change.