Public pension funds need to do more to guard against climate-related financial risks to protect their retirees, environmental advocates argue in a new report that analyzes their proxy voting strategies.
The report released Monday by the Sierra Club and Stand.earth found most of the 32 pension funds they rated were not adequately addressing climate and environmental risks based on their own voting guidelines and records. Their combined assets under management exceed $3.8 trillion, according to the report.
The Massachusetts Pension Reserves Investment Management was the only fund to receive an “A” grade, while ...