ESG Newsletter

The Connecticut Retirement Plans and Trust Funds ("CRPTF") consists of six State Pension Funds and nine State Trust Funds. CRPTF has approximately 212,000 pension plan beneficiaries and participants which include state and municipal employees, teachers, retirees and survivorships, as well as for trust funds that support academic programs, grants, and initiatives throughout the State. As of December 31, 2018, CRPTF had $32.5 billion of assets under management. 

As a signatory to the UN Principles for Responsible Investment, CRPTF only selects investment partners and money managers who carefully review the effect of ESG issues on companies. Additionally, CRPTF has implemented diversity principles to assess the diversity policies of its vendors, including asset managers. Further to that, CRTPF has launched a domestic equity brokerage program which sets targets for utilizing minority and women-owned, Connecticut-based, and emerging broker-dealers. Finally, CRPTF launched Connecticut Horizon Fund to create opportunities for minority-owned firms, woman-owned firms, Connecticut-based firms, and emerging firms with assets less than $2 billion.

Investment Policy Statement

CRPTF Diversity Principles

Established in 1917, Alecta is the largest occupational pension provider in Sweden with over 2.4 million members. As of December 31 2019, Alecta had SEK 954 billion ($103 billion) of assets under management.

As a long-term responsible investor,  Alecta considers sustainability along with financial data – including negative screening criteria on companies active in controversial weapons. Furthermore, as part of its involvement with the Net-Zero Asset Owner Alliance, Alecta seeks to fully decarbonize its portfolios. To do so, the pension provider engages with portfolio companies on Climate risk individually and collaboratively through Climate Action 100+, and is heavily invested in green bonds (SEK 40 billion).

Annual and Sustainability Report 2019

Climate Report (only available in Swedish)

Oslo Pensjonsforsikring was established in 2000 by the city of Oslo as a life insurance company to manage the defined benefit pension fund for employees of the Oslo city council. As at March 30 2020, Oslo Pensjonsforsikring had NK 100 billion (US$ 11 billions) of assets under management.

The organization applies the exclusion list of GPFG, the Norwegian Oil fund, based on tobacco, controversial weapons, and climate criteria. Furthermore, as part of its Climate Change strategy, Oslo Pensjonsforsikring systematically conducts scenario analysis and measures the carbon intensity of existing and new equity investments to ensure that climate risks are accurately captured. As such, the life insurance company has set carbon intensity reduction targets of 40% by 2030.

Q1 2020 Report

How Climate Risk Is Assessed (In Norwegian)

The Sierra Club Foundation was established in the 1960s so that the Sierra Club, an environmental advocacy group, could preserve its charity status by assuring tax deductibility to its donors. The organization is funded by individual and institutional donors to promote efforts to educate and empower people to protect and improve the natural and human environment.

The Foundation manages its assets in order to maximize its impact by aligning its investment strategy to its mission. As such, the Sierra Club Foundation's assets are invested in funds that integrate ESG issues and that do not own companies with fossil fuel reserves. Additionally, the Foundation manages a high impact portfolio that focuses on achieving a high impact by focusing on climate solutions.

Investment Policy Statement

Established in 2012 by Jim and Krista Sorenson, the Sorenson Impact Foundation's seeks to invest in socially impactful businesses while creating an ecosystem for impact investing. The Foundation invests with impact in mind and provides grants to build the capacity of its peers with regards to Impact Investing. Notably, the Foundation endowed the Sorenson Impact Center at the University of Utah to create a program 

In 2017, the Sorenson Impact Foundation decided to align 100% of its assets with mission-related investments by 2020. As such, the Foundation increased its exposures to Thematic and ESG funds including Affordable Housing, Financial Inclusion, and Climate Change dedicated investment funds.

Path to Mission Alignment

The Russell Family Foundation was established in 1999 by Jane and George Russell following the sale of the Frank Russell Company to Northwestern Mutual Life. As of December 31st 2018, the Foundation had 135 million of assets under management.

 In 2004, the Russell Family Foundation committed $1 million to a pilot experiment on Mission Related Investing to develop its own understanding of how their assets can help further their mission. This initiative led them to create a Mission Related Investment Committee to consider how each new investment opportunity is aligned to their own mission. In 2019, their efforts led the Foundation to align 82% of its assets to mission-related investments.

The Impact Investing Journey: Aligning Portfolio with Purpose

Established in 2005, the Vermont Pension Investment Committee is responsible for managing the assets of the Vermont State Employees' Retirement System, the Vermont State Teachers' Retirement System, and the Vermont Municipal Employees' Retirement System. As of June 30, 2019, VPIC had $4.5 billion of assets under management.

As a long term investor, VPIC considers that ESG issues affect the financial performance of the companies they own. As such, they have adopted an ESG policy and have implemented programs to survey the ESG capabilities of new and existing Managers. Furthermore, as an active owner, VPIC chose to remain invested in fossil fuel companies in order to actively engage with portfolio companies individually, and collaboratively through Climate Action 100+.

ESG Policy

ESG Report – 2019

Based in Denmark, Sampension is a customer-owned pension company offering labour market and company pensions. The organization provided pension benefits to 278,000 individuals and had USD 44 billion of assets under management as of December 31, 2018.

Sampension's Responsible Investment policy applies to all of its assets under management. Additionally, it applies recognized international norms and investor initiatives based on Environmental and Social issues such as the UN PRI, the UN Global Compact, the OECD Guidelines for Multinational Enterprises and the OECD Guidance for Responsible Business Conduct for Institutional Investors. As an active owner, Sampension engages with portfolio companies which are negatively contributing to the UN SDGs, as well as highly pollutant companies through Climate Action 100+.

Responsible Investment Policy

Annual Report 2018

Sustainability Report 2019 (Available in Danish only)

Established in 1990, TelstraSuper is a superannuation fund for current and past employees of Telstra, an Australian telecommunication company. As of June 30, 2019, the superannuation fund had AU$ 21 billion of assets under management.

As a long-term investor, TelstraSuper integrates sustainability into its investment process, and behaves as an active owner to prevent value destruction in both its internally and externally managed assets. Furthermore, the super fund implemented a climate change strategy in order to manage the carbon risks embedded in its portfolios. As such, it joined Climate Action 100+ in December 2019 to engage highly polluting companies, and invests in wind and solar power generation. 

Sustainable Investment Policy

Climate Change Statement

Proxy Voting Report