The Fund releases an annual Corporate Governance Stewardship Report which highlights the Fund’s work on its corporate governance agenda, along with major initiatives and achievements. The report also highlights the Fund’s engagement. Our stewardship program works to encourage the companies in which the Fund invests to operate according to sound management principles—including on matters of sustainability, diversity and accountability—that have been shown to promote long-term financial success. Our engagement takes many forms, including voting on nearly 30,000 proxy measures annually, filing shareholder resolutions, writing letters as specific issues arise and discussing important environmental, social and governance (ESG) issues directly with corporate directors and management. The Fund’s Corporate Governance Stewardship Reports can be found on the Corporate Governance segment of its website (https://www.osc.state.ny.us/pension/corporategovernance.htm).
The Fund makes its proxy votes available annually on its website and summarizes the Fund’s voting during the year in its annual Corporate Governance Stewardship Report. The Fund’s annual votes can be found on the Corporate Governance segment of its website (https://www.osc.state.ny.us/pension/corporategovernance.htm). The Fund also alerts external managers on changes to its proxy voting guidelines and ESG principles. The Fund encourages its external managers to consider these principles in investment decision making, proxy voting, and corporate engagements consistent with fiduciary duty.
In 2019, the Fund released it Climate Action Plan which outlines the Fund’s engagement strategy with portfolio companies to encourage and support climate risk management, strategic planning and reporting. The Fund’s Climate Action Plan can be found on the Fund’s website (https://www.osc.state.ny.us/pension/climate-action-plan-2019.pdf).