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...In 2022, West Virginia led the way when it barred five financial firms, including JPMorgan, BlackRock and Goldman, from new state business, saying they were “boycotting” the fossil fuel industry....
...In January 2022, West Virginia treasurer Riley Moore, who manages the US state’s cash and financial dealings, became the first red-state official to pull money out of BlackRock....
...“Pension funds use leverage to manage cash flow and manage portfolios more efficiently,” said James Lewis, chief investment officer at the UK arm of Mercer, which advises pension funds....
...But given the long-term investment horizons of pension funds and insurers, Riese said, it really is in their interest to use their collective economic clout to mitigate climate risk for themselves and their...
...The outflows started in 2022 after West Virginia state treasurer Riley Moore included BlackRock on the nation’s first list of financial firms deemed to boycott fossil fuel companies....
...One of the nay votes was from West Virginia’s Alexander Mooney, who has received $2.4mn in support from the Club for Growth and the Protect Freedom PAC for his senate bid....
...(Patrick Temple-West) US pension giant says engagement, not divestment, achieves climate impact The investment chief of Calstrs, one of the world’s largest pension funds, has said the tactic of dumping...
...Ukraine spends nearly half of its $87bn budget on defence and relies on international donors to cover the other half, which covers public services and pensions....
...As always, thank you for reading. — Patrick Temple-West Sustainable investing Australian pension fund broadens investments amid uncertainty One of Australia’s largest pension funds is broadening its sustainable...
...Ubben would later become one of Enviva’s biggest shareholders when he started Inclusive Capital, a sustainability-focused investment fund....
...stop transferring the portion of the revenues that would have paid salaries and pensions to PA officials in Gaza....
...To nudge banks away from fossil-fuel financing, one of the most vocal pension funds on climate change has wrangled two Wall Street banks into disclosing a ratio comparing their respective levels of financing...
...(Simon Mundy) Smart reads The Taskforce on Social Factors, set up by the UK government to look at social risks and impacts that pension fund trustees should consider, published its final report yesterday...
...Patricof, who is 89, was there to raise funds for Primetime Partners, an early-stage venture capital fund that invests in companies working to improve the quality of life for older people....
...Smart read Check out Will Schmitt’s story about how a Texas pension fund seems to have skirted the state’s tough ESG investing prohibitions....
...The Dutch pension fund PFZW yesterday said it had sold €2.8bn of its holdings in oil groups including Shell, BP and TotalEnergies because they were not doing enough to produce credible plans for the clean...
...The SEC’s investor advisory committee were meeting to discuss the consequences of amending US shareholder voting rules, after big pension funds such as the behemoth Calpers had pushed for changes to give...
...Blackwells issued a presentation this week estimating that ValueAct, which has been a supportive investor of Disney, has made up to an estimated $95mn in fees from managing pension funds of company employees...
...Professor Sir Steve West, vice-chancellor of the University of the West of England, which has an annual turnover of £380mn, said the additional cost of pensions contributions for employers would total £1.1mn...
...West Virginia was the first state to target BlackRock and other financial firms deemed to boycott fossil fuel companies....
...Letter in response to this article: PPF payment holiday would be Trussian folly / From Rory Murphy, Chair of Trustees, Merchant Navy Officers Pension Fund, Haywards Heath, West Sussex, UK...
...Another investor, Abby Shapiro, senior vice-president Europe, at Oxford Properties, the property arm of the Canadian pension fund Omers, agreed....
...Republican states reliant on the fossil fuel industry, including West Virginia and Oklahoma, have banned some asset managers from doing business with them, based on accusations of boycotting fossil fuels...
...Rory Murphy Chair of Trustees Merchant Navy Officers Pension Fund West Sussex, UK...
...where the state’s pension fund for public employees has a stake....
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