North America
Latest news and analysis of pensions, asset management, regulation and trends in North America from IPE’s award-winning journalists.
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NewsOver 70 investors left climate engagement group, CA100+ reveals
CA100+ confirmed that most of 45 out of 71 exiting investors were US-based voluntarily withdrawing from the group
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NewsGSAM to exit Climate Action 100+
Other major players to have departed the collaborative investor engagement initiative this year include Invesco, JPMAM and SSGA
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NewsMorningstar proxy season analysis: ESG shareholder resolution growth primarily driven by ‘anti-ESG’ proponents
Overall support for ESG proposals stayed flat in 2024 at 23%, with a marked rise in anti-ESG resolutions.
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NewsVelliv invests €94m in Nuveen private equity impact fund
Asset manager raises around $200m for its second private equity climate inclusion strategy
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NewsCEPB to back clean energy financing metric requests at bank AGMs
The pension fund’s decision comes at a time when the climate ambitions of the banking sector have been deemed insufficiently ambitious
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AnalysisGreenwashing crackdown: lessons learned and paths forward for asset managers
One question which has arisen from greater fund scrutiny is the risk of asset managers being reluctant to speak openly about the sustainability of their products, says Cerulli Associates
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NewsInvestors bemoan ExxonMobil legal move against shareholder climate resolution
Oil and gas major says it turned to court in bid to ‘stop abuse’ of shareholder proposal process
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NewsNorway’s SWF builds up stewardship team in New York
With North American assets making up nearly half the €1.4trn SWF’s equity fortune, gaining more first-hand experience in the region is key for GPFG, says governance chief
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NewsInstitutional investors see geopolitical bad actors as 2024 economic threat
Institutional investors have ‘good reason for concern’ as the geopolitical landscape is looking ‘less stable going into 2024’, says Natixis research
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Opinion PiecesActive management is back on the menu for US pensions
Rising rates and market volatility are forcing US pension funds to rethink their approach to passive and active investing. They are realising that their US stock portfolios are not diversified enough to help protect against a correction. But change may not come so fast.
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NewsUS Treasury releases net zero financing and investment principles
Secretary Yellen says goal is to ‘affirm importance of credible net zero commitments’
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Opinion PiecesViewpoint: New UK government taskforce signals importance of ESG
There has been substantial progress in climate-related and governance issues, but social factors, have not always received as much attention.
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News
‘Milestone’ reached as SEC proposes climate-related disclosure rule
Proposed US rule passed 3-1 by Commissioners and will be subject to 60-day comment period
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Opinion PiecesLetter from US: Upcoming court ruling could create complications for DC plan sponsors
By the first half of this year, the United States Supreme Court is expected to issue a decision that could affect the defined-contribution (DC) industry. The case is Hughes vs Northwestern University, one of about 150 similar class-action lawsuits filed nationally in the past few years, alleging that plan fiduciaries breached their duty of prudence under ERISA, the Employee Retirement Income Security Act of 1974.
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NewsUSS helps TPG Rise Climate to $5.4bn first close for inaugural fund
Investor base includes participation from multinational companies
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Opinion PiecesLetter from US: Hybrid plans in focus
The move from defined benefit (DB) pension plans to defined contribution (DC) has been ongoing for years in the US, both in the private and public sector. But more recently many state and local governments have adopted hybrid designs.
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NewsStewardship roundup: APG co-files Amazon shareholder proposal
Plus: Investors keep up tailings dam standard momentum
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News
SSGA to get new CIO as Lacaille appointed to lead ESG programme
Lori Heinel, currently deputy global CIO, will take over from Rick Lacaille
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NewsAsset management roundup: LGIM launches secure income range for DB plans
Plus: Franklin Templeton-Legg Mason deal done; AXA IM sees potential for hybrid AGMs
