The Civil Service Retirement Act, which became effective on August 1, 1920, established a retirement system for certain Federal employees. It was replaced by the Federal Employees Retirement System (FERS) for Federal employees who first entered covered service on and after January 1, 1987. The Civil Service Retirement System (CSRS) is a defined benefit, contributory retirement system and employees share in the expense of the annuities to which they become entitled.
Civil Service Retirement System could assign responsibility for sustainability to the board of directors and link the remuneration of its executive or management teams to sustainability performance criteria. Moreover, the pension fund could disclose a commitment to gender equality and women’s empowerment, the proportion of women on the board of directors and in senior leadership roles. Also, it could provide evidence of how it addresses any gender pay gaps. Civil Service Retirement System has an opportunity to describe its engagement approach on sustainability themes and impact topics with investees.
Civil Service Retirement System could disclose a target to reach net-zero financed emissions by 2050 and the key sectors it has identified as priorities to engage with on climate change, specifically on the alignment with the Paris Agreement. Furthermore, the pension fund has an opportunity to publish its financing activities devoted to climate solutions. No evidence was found that Civil Service Retirement System is committed to minimising its negative impacts on biodiversity. Furthermore, the pension fund could describe its approach to fossil fuels that spans across the fossil fuel value chain, such as the amount or share of finance it directs towards fuels or its stance on financing companies with new fossil fuel projects.
Civil Service Retirement System could disclose publicly available policy statements committing it to respect human rights, the ILO core labour rights, and the health and safety of workers. Moreover, it has an opportunity to describe a comprehensive process for identifying its human rights risks and impacts across all its activities. On diversity, Civil Service Retirement System could publish the proportion of its total direct operations workforce for each employee category by age group and gender. To provide transparency on financial inclusivity, the pension fund could disclose the amount of finance directed towards women-owned businesses, small- and medium-sized enterprises (SMEs) or low-income developing countries. To conclude, it could establish a grievance mechanism accessible to all workers, external individuals and communities to raise human rights complaints or concerns.
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United States of America
Revenue: USD 126 billion; Total assets: USD 158.94 billion