Public pension funds, valued at $6.17 trillion, are crucial not only for safeguarding worker retirements but also for propelling corporate accountability and sustainability. These funds, such as CalPERS and MassPRIM, can exert significant influence by demanding sound corporate strategies towards low-carbon economies and challenging asset managers to consider environmental, social, and governance factors in their investments. The pivotal challenge for trustees is to balance the fiduciary responsibility to provide returns for retirees while using these funds to advocate for workers' interests and sustainability in business practices.
Public pension funds, amounting to $6.17 trillion, can influence corporate behavior for sustainable practices while fulfilling their fiduciary duty to retirees.
Public pension funds can directly impact corporate behavior by demanding credible low-carbon plans and integrating sustainability and governance into investment mandates.
The balance trustees face is delicate: they must invest wisely to support future retirees while also leveraging their capital for pro-worker and sustainable initiatives.
With $6.17 trillion at stake, public pensions are vital not just for retirements but also as a force for positive corporate change in the economy.
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