Created in 1986 by the U.S. Congress and became effective in 1987, new Federal civilian employees who have retirement coverage are covered by Federal Employees Retirement System (FERS). The system replaced the Civil Service Retirement System. FERS provides benefits from three different sources: a Basic Benefit Plan, Social Security and the Thrift Savings Plan. It serves more than 6.2 million participants and manages USD 709.6 billion in assets under management.
In terms of its approach to senior leadership accountability, Federal Employees Retirement System has an opportunity to assign responsibility for sustainability to its highest governing body and link the remuneration of its executive or management teams to sustainability performance criteria. Furthermore, no evidence was found that the financial institution is committed to gender equality and women’s empowerment. Federal Employees Retirement System could disclose the proportion of women in senior leadership roles as well as how it addresses any gender pay gaps. The financial institution has an opportunity to describe its engagement approach on sustainability themes and impact topics with investees.
There is no evidence that Federal Employees Retirement System discloses a target to reach net-zero financed emissions by 2050. It has an opportunity to disclose the key sectors and companies it has identified as priorities to engage with on climate change, specifically on the alignment with the Paris Agreement. Furthermore, it could disclose the amount of its investment devoted to climate solutions. Regarding nature and biodiversity, no evidence was found that the financial institution is committed to minimising its negative impacts or financing regenerative solutions.
There is no evidence that Federal Employees Retirement System has a publicly available policy statement committing it to respect human rights laid out in the UN Guiding Principles and the ILO declaration on fundamental rights at work. Therefore, it has an opportunity to describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its investment activities. It also has an opportunity to disclose the proportion of its total direct operations workforce for each employee category by age group and gender. To provide transparency on financial inclusivity, the financial institution could disclose the amount of finance directed towards low-income developing countries.
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United States of America
Revenue: USD 126 billion; Total assets: USD 1.1 trillion