TRS, based on trustee interest and/or recommendations from the BAM's Corporate Governance and Responsibile Investment staff, approves participation in collaborative initiatives. In addition, the Comptroller's Office may participate in collaborative engagements on TRS behalf that are consistent with TRS' policies and priorities.

TRS works with other stakeholders to maximize impact in key ESG issues. Through ongoing dialogue with other large institutional investors, key issues are identified and a common strategy is developed to address the issues involved.

TRS is an active participant in several ambitious collaborative engagements, including leading the Boardroom Accountability Project launched by TRS and the other NYC Pension Funds, and participating in the Carbon Asset Risk initiative coordinated by CERES and the Human Capital Working Group led by the UAW Retiree Medical Benefits Trust. TRS also leads, and participates in, various other formal and informal collaborations, including encouraging less-resourced investors to co-file the sharewner proposals submitted by TRS.