With environmental, social, and governance (ESG) investing on the rise and calls for public pensions to divest from fossil fuels, private prisons, gun manufacturers, and others, IPFI compiled the latest research to determine the efficacy of ESG investing for public pensions. Public pensions across the country are facing almost $6 trillion in unfunded liabilities. Any […]
COMMENTARY: It’s Proxy Season And Here’s Why That Matters For Public Pensions
This op-ed originally appeared in Forbes on June 13, 2019. This is the time of year when publicly traded companies host their annual shareholder meetings. During these meetings the shareholders vote their shares on various issues impacting the company. The company’s proxy statement will include shareholder resolutions on everything from executive pay to proposals that impact how the company […]
CalSTRS Need to Focus More on Investment Performance, Less on Proxy Advisory Firms
The issue of proxy advisory reform is at the center of debate now with the SEC entering into a formal rulemaking process to roll back some of these firm’s unchecked powers. These firms have been known to make recommendations misconstruing or misinterpreting data, they have been allowed to operate and make recommendations with clear conflicts […]
The SEC Is Right To Force More Transparency Into Proxy Voting
This article originally appeared in Forbes on January 31, 2020. The Securities and Exchange Commission is about to take an important first step in bringing accountability and transparency to the proxy voting world. For far too long pension funds have off-loaded their fiduciary duty to their beneficiaries to proxy advisory firms by outsourcing to them, the review […]
Commentary: The SEC’s New Rules For Proxy Advisory Firms Are A Key Step Toward Accountability
This article originally appeared in Forbes on April 30, 2020. In a recent Op-Ed in Barron’s , four current state treasurers argue that the SEC’s proposed rules for proxy advisory firms are a harmful overstep by the agency tasked with protecting investors and promoting the creation of wealth in this country. As the former State Treasurer of Connecticut, I […]
Commentary: As Shareholders Come Together to Vote, Investors Must Work to Keep Politics Out of Public Pensions
This article originally appeared in Morning Consult on June 9, 2020. With the proxy voting season in motion, corporations and shareholders are preparing to debate numerous potential changes to how thousands of businesses operate. This year, a single issue will be at the forefront of everyone’s minds: the COVID-19 pandemic. The virus has upended the […]