| From across the nation and around the world, INSIGHTS-edge brings you news, commentary and research in key areas of interest regarding ESG, Sovereign Wealth Funds and US Public Sector Pension Funds. We watch the watchers...who are watching you. ESG / Sustainability American Funds Sell Petrochina After Shareholder Meeting
(source: Investors Against Genocide) Following a well-publicized shareholder vote on genocide-free investing on November 24, American Funds has now become the largest mutual fund company to divest its holdings in PetroChina. A recent posting on the company’s website shows that American Funds sold virtually all their holdings in Petrochina (NYSE: PTR), worth $190 million.The investment landscape has changed dramatically in the last year. Following action by American Funds and TIAA-CREF, investors, concerned about their savings being connected to genocide, now have clear, mainstream choices. The positive actions by American Funds and TIAA-CREF stand in stark contrast to Vanguard, Fidelity, and Franklin Templeton for taking no action and continuing to hold large investments in companies, such as PetroChina, linked to an ongoing genocide. Coalition pressures firms over ESG reporting failure
(source: Professional Pensions)An influential coalition of investors, including 33 pension funds, has demanded 86 major companies produce overdue sustainability reports. The resolution is the third to be tabled this year after oil giants BP and Shell came under fire over plans to invest billions in environmentally damaging oil sands projects Shareowners Are Urged to Press Companies to Link Compensation with ESG Factors
(source: Social Funds.com) Integration of environmental, social, and governance (ESG) issues into corporate business strategy is recognized by stakeholders as critical to long-term financial stability and value creation. A key factor of such integration is the alignment of executive compensation with consideration of ESG factors. In Europe, the Netherlands, Norway, and Sweden require that shareowners be given a binding vote on corporate remuneration policies. Companies in France, Germany, and the UK are required by law to allow advisory votes. Sovereign Wealth Funds Beijing's Treasury holdings fall as it diversifies
(source: AP) Beijing — A decline in China's declared holdings of U.S. Treasury bills comes as it is trying to diversify its foreign assets. But analysts say Washington's debt is still the only asset big enough to absorb the trade-fueled flood of cash Beijing needs to invest, and it might be adding to its hoard with secret purchases through banks abroad. U.S. looks to reluctant foreign investors to help fund the housing market
(source: Washington Post) As the U.S. housing market boomed in the past decade and fueled a bull market in mortgage investments, Norway's government-owned fund went along for the ride -- and the fall. Wealth funds homing in on emerging economies
(source: Zawya) With emerging markets outpacing developed economies and recovering from global recession faster than developing economies, many sovereign wealth funds are focusing their attention and thus their investment strategies towards these countries. |
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| US Public Sector Pension Funds U.S. state pension funds have $1 trillion shortfall: Pew
(source:Reuters) Washington, D.C.- U.S. states face a total shortfall of at least $1 trillion in their funds for employees' pensions and retirement benefits, and their financial problems are quickly mounting, according to a report released by the Pew Center on the States on Thursday. Pension Funds Sue Morgan Stanley Over Pay and Bonuses
(source: BusinessWeek) Morgan Stanley, the world’s biggest brokerage, was sued today by two U.S. pension funds which allege the firm made improper compensation and bonus payments.The suit by the Security Police and Fire Professionals of America Retirement Fund and Central Laborers’ Pension Fund, filed in New York State Supreme Court in Manhattan, alleges breaches of fiduciary duty and unjust enrichment for pay awarded to employees in 2006, 2007 and 2009. Brown questions Iran assets in pension funds
(source: FresnoBee) Attorney General Jerry Brown said Monday that CalPERS and CalSTRS aren't complying with a state law requiring them to end their investments in Iran. The 2007 law requires the two big pension funds to sell their investments in energy and defense companies that fail to halt or limit their operations in Iran. The law also requires the funds to make annual reports outlining Iran- related investments still on the books and when they plan to sell them. Watching the Watchers  Association for Sustainable & Responsible Investment in Asia
Headquarters: Hong Kong
Established: 2001
Key Partners
Carbon Disclosure Project, Asian Development Bank Overview / Mission
The Association for Sustainable & Responsible Investment in Asia (ASrIA) defines its work: “ASrIA is a not-for-profit membership association dedicated to promoting corporate responsibility and sustainable investment practice in the Asia Pacific region. ASrIA’s members include investment institutions managing over US$4 trillion in assets, however membership is open to any organisation which has an interest in sustainable investment.” |
