Acknowledging that the multi-faceted causes and consequences of climate change call for different methods, Quebec-based pension fund Bâtirente is publishing a new climate commitment. “Effectively supporting the transition to an economy that is aligned with the objectives of the Paris [Agreement] requires a multi-dimensional approach,” said Daniel Simard, the pension fund’s chief executive officer, in […]
Globally, many pension funds are divesting from carbon and fossil fuels, while others are staying the course and focusing on financial value and their fiduciary duties Simon Archer, partner at Goldblatt Partners LLP and co-director of Osgoode Hall Law School’s Centre for Comparative Research in Law and Political Economy: Political posturing aside, no one seriously […]
New York City is taking major steps toward divesting from fossil fuels by hiring investment advisors to review three of its pension plans and make recommendations about divestment. Combined, the three plans have more than $155 billion in assets under management, of which about $3 billion is invested in fossil fuel reserve owners’ securities. The […]
Norway’s largest pension fund, Kommunal Landspensjonskasse, is divesting its holdings in five oil sands companies, four of which were Canadian. KLP’s stake in Canadian firms Cenovus Energy Inc., Husky Energy Inc., Imperial Oil Ltd., Suncor Energy Inc. and Russian company Tatneft PAO was a combined US$58 million, with US$33 million in equity and US$25 million in bonds. […]
The University of California is dumping fossil fuel investments from its nearly $84 billion pension and endowment funds, calling them a financial risk. An opinion article in Tuesday’s Los Angeles Times says the university will make its endowment fund “fossil free” by month’s end and its pension fund, which covers 320,000 people, will soon follow. Read: Divesting from […]
In 2017, New Jersey’s Police and Firemen’s Retirement System took a closer look at its investment in Nike Inc. following an advertising campaign featuring former National Football League player Colin Kaepernick, who had ignited controversy in 2016 by taking a knee during a pre-game national anthem in protest of the police treatment and killings of […]
On Nov. 7, 2018, the California State Teachers’ Retirement System (CalSTRS) announced that it will be divesting from two U.S. publicly-held companies that operate private prisons. Then, on Nov. 14, 2018 CalSTRS announced it is part of a coalition representing $4.83 trillion in assets that joined together to promote five principles for a responsible firearms […]
The Ontario Teachers’ Pension Plan has signed an agreement promising to divest from the tobacco industry as part of a wider pledge supported by multiple global government and health organizations. “Given the reputational, social and commercial headwinds facing the tobacco industry today, we are no longer confident that it represents an attractive investment opportunity for a […]
Mission hedging argues foundations and endowments can do more good by loading up on profitable companies they oppose.