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You are in Strategy and Governance » Investment policy
Our investment beliefs reflect several ESG and climate change beliefs. Our investment policy statement reflects commitment to PRI. We have policies on proxy voting and shareholder engagement. We include ESG questions in the due diligence questions for managers in all asset classes. Additionally, we have a Responsible Contractor Policy for private real estate investments. And we have exclusion policies related to gun manufacturers and retailers, private prisons, thermal coal, tobacco and certain countries.
PRI, climate change, human capital, responsible contracting, diversity, fair labor practices, economic equality, ethics, transparency
In our corporate governance work, we address carbon emissions, disclosure of climate risks, ensuring climate competency on boards and other environmental sustainability issues in our public portfolio companies. In our investment strategy, we have conducted a carbon footprint analysis of our public equity and public fixed income. We have also divested from thermal coal and approved a resolution of studying a prudent strategy for potentially divesting from securities issued by fossil fuel reserve owners in a 5 year period.
The link to the US proxy voting guidleines is in SG 02.1 and global proxy voting guidelines are available to the public upon request. Summary of engagements is included in NYC Pension Funds annual Postseason Report on shareowner initiatives, with the fiscal 2019 report avaiable here: https://comptroller.nyc.gov/wp-content/uploads/documents/2019_Shareowner_Initiatives_Postseason_Report.pdf
We have a Ethics and Compliance policy statement and comprehensive conflicts policy for managers regarding prohibitions of placement agents, gifts, and political contributions and disclosure of fees, affiliates, contacts, compliance policies and practices and other relationships that may give rise to conflicts. Our employees are also subject to NYC Conflicts of Interest Law. We receive annual tailored training on this law.