What are the other ways the New York City Pension Funds advance their corporate governance interests?

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NYCTaxpayer

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Posted 7 years ago

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Official Response
The New York City Comptroller’s Office and Pension Funds have a long and proud record of working together to protect the long-term interests of our participants and beneficiaries that goes well beyond actively voting proxies and engaging individual portfolio companies. For example, they actively support regulatory reforms to strengthen corporate governance and enhance shareholder rights, including pending reforms to grant shareholders the ability use the corporate proxy statement to nominate directors. In order to maximize their impact, the Funds also work collaboratively with other U.S. and global investors. In fact, the New York City Comptroller’s Office and Pension Funds are founding members of both the Council of Institutional Investors, an association of employee benefit funds, foundations and endowments with combined assets that exceed $3 trillion, and a leading voice for good corporate governance and strong shareowner rights; and CERES, a national coalition of investors, environmental organizations and other public interest groups working with companies to address sustainability challenges such as global climate change and water scarcity.