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New York City Employees Retirement System

PRI reporting framework 2020

You are in Direct - Listed Equity Active Ownership » Engagement

Engagement

LEA 02. Reasoning for interaction on ESG issues

Indicate the method of engagement, giving reasons for the interaction.

Type of engagement

Reason for interaction

Individual / Internal staff engagements
Collaborative engagements
Service provider engagements

02.4. Additional information. [Optional]

NYCERS submitted 58 shareowner proposals to a total of 57 companies for the 2018 proxy season. Overall, approximately two‐thirds of the proposals (41 of 58) were withdrawn after the companies agreed to take steps to implement the request. TRS filed proposals with companies on Proxy Access, Gender Pay Disparity, EEO-1 Data, Greenhouse Gas Emission reduction targets, Clawback Policy, Board Matrix , Political Spending and Corporate Lobbying Disclosure, Independent Board Chair and Inequitable Employment pratices.

Details of our Proposals filed are in LEA 11.1 and some other engagments detail in LEA 04.2 , LEA 10.1 and SG 11


LEA 03. Process for identifying and prioritising engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.

03.1. Indicate whether your organisation has a formal process for identifying and prioritising engagements.

Indicate the criteria used to identify and prioritise engagements for each type of engagement.
Type of engagement
Criteria used to identify/prioritise engagements
Individual / Internal staff engagements

Individual / Internal staff engagements

Collaborative engagements

Collaborative engagements

03.3. Additional information. [Optional]

The Corporate Goveranance and Responsible Investment program -- through its own research, participation in various investor collaborations and in consultation with the NYC Comptroller and Trustees -- develops an engagement plan that typically covers a broad range of environmental, social and governance reforms and issues. Priority is typically placed on (1) issues believed to be critical to long-term value protection and creation (2) issues on which NYCERS has historically been a leader and (3) new and emerging ESG issues on which TRS believes it can demonstrate leadership. The potential to have a meaningful impact on firm behavior, disclosure and performance is a consideration in all initiatives.

The plan, including both issues and specific focus companies, is presented to the Proxy Committee of the NYCERS board of trustees for review and approval. Additional engagements can be initiatied throughout the year,in response to trustee interest or a Comptroller's Office recommendation, subject to Proxy Committee approval.


LEA 04. Objectives for engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.
Indicate whether you define specific objectives for your organisation’s engagement activities.
Individual / Internal staff engagements
Collaborative engagements

04.2. Additional information. [Optional]

Engagement deatil in LEA 10 , LEA 11 and SG 11


LEA 05. Process for identifying and prioritising collaborative engagement

Indicate whether you monitor and/or review engagement outcomes.
Individual / Internal staff engagements
Collaborative engagements
Indicate whether you do any of the following to monitor and/or review the progress of engagement activities.
Individual / Internal staff engagements
Collaborative engagements

05.3. Additional information. [Optional]

The Corporate Governance and Responsible Investment staff in BAM actively participate in collaborative intiatives on behalf of NYCERS and are responsible for monitoring progress and reporting back to the NYCERS' board. Summary results of the more signficant initiatives are also included in the Postseason Report that is disclosed publicly. Information on propsals filed by NYCERS are in LEA 11.1

Link to the Report; https://comptroller.nyc.gov/wp-content/uploads/documents/2019_Shareowner_Initiatives_Postseason_Report.pdf

As noted previously, most collaborative engagements seek a specific set of reforms or disclosures, so progress measurement is relatively straightforward. Some engagements, however, are less focused on a discrete outcome, such as recent engagements around human capital and in some cases climate change.


LEA 06. Role in engagement process

06.1. Indicate whether your organisation has an escalation strategy when engagements are unsuccessful.

06.3. Additional information. [Optional]


LEA 07. Share insights from engagements with internal/external managers

07.1. Indicate whether insights gained from your organisation`s engagements are shared with investment decision-makers.

Type of engagement

Insights shared

Individual / Internal staff engagements

Collaborative engagements

07.2. Indicate the practices used to ensure that information and insights gained through engagements are shared with investment decision-makers.

07.3. Indicate whether insights gained from your organisation’s engagements are shared with your clients/beneficiaries.

Type of engagement

Insights shared

Individual/Internal staff engagements

Collaborative engagements

07.4. Additional information. [Optional]

Detail of Engagment is LEA 10 , LEA 11 and SG11 and also engagments and outcomes are in the Postseason ,

 https://comptroller.nyc.gov/wp-content/uploads/documents/2019_Shareowner_Initiatives_Postseason_Report.pdf


LEA 08. Tracking number of engagements

08.1. Indicate whether you track the number of your engagement activities.

Type of engagement
Tracking engagements
Individual/Internal staff engagements​

Collaborative engagements

08.2. Additional information. [Optional]

We closely monitor our excel tracking sheets and we report all our engagments in the postseason report. Detail of the shareholder porposlas filed for the 2019 proxy season detail are in LEA 11.1 and other engagments detail in LEA 10.1, and SG 11

Link to the 2019 Post Season Report" https://comptroller.nyc.gov/wp-content/uploads/documents/2019_Shareowner_Initiatives_Postseason_Report.pdf


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