A handful of snippets for the sustainable investor.
In new research, New York University professor Tensie Whelan found that only 6% of board directors at Fortune 100 companies in the US had environmental or governance experience. It is concerning because actual ESG experience on boards helps to bridge the gap between rhetoric and meaningful action. In any case, it has always been our view that executive leadership that matters, not board representation. So what we prefer to look for are signs that actual decision-makers within a company are doing their bit to improve their sustainability know-how. We’ll publish some research on that sometime this year.
The trustees of two of New York City’s largest pension funds – the New York City Employees’ Retirement System (NYCERS) and New York City Teachers’ Retirement System (TRS) – voted to divest from around $4bn of investments related to fossil fuels. A third – the New York City Board of Education Retirement System (BERS) is expected to follow suit. Divestment – although not necessarily the holy grail in effecting climate progress – can be highly effective in creating incentives for a cleaner future, especially when done in large size like this. New York has been coordinating with London and other major cities to encourage similar action globally.
Sustainability digest is a weekly newsletter highlighting a handful of interesting issues facing the sustainable investor.
To the pound 