Los Angeles County Employees Retirement Association (LACERA)
LACERA is a governmental entity that administers and manages the retirement fund for the County of Los Angeles (County) and outside districts. Since 1971, LACERA administers the Retiree Healthcare Benefits Program for the County. It is further responsible for managing the trusts that fund these programs. LACERA is governed by The board of Retirement and The Board of Investments, both of which are composed of elected and appointed trustees.
In terms of its approach to senior leadership accountability, LACERA has an opportunity to assign responsibility for sustainability to the group’s 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. LACERA 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 LACERA discloses a target to reach net-zero financed emissions by 2050. It has an opportunity to disclose key sectors or companies identified as priorities to engage with on climate issues, specifically alignment with the Paris Agreement. It could disclose alignment with the Paris Agreement as one of its engagement priorities with companies to which it provides financial services. Furthermore, LACERA 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 LACERA 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, gender or another indicator of diversity. To provide transparency on financial inclusivity, LACERA could disclose the amount of finance directed towards low-income developing countries.
More about the company
United States of America
Net income: USD 15.6 billion; Total assets: USD 75.36 billion