NYSTRS

The financial institution transparently identifies the key sectors, clients and investees to engage with on climate issues.

While NYSRTRS discloses that climate is considered in its risk strategy, there is no evidence of prioritised material impacts. Recommendations include linking senior executive remuneration to sustainability targets and providing a detailed stewardship report on sustainability themes beyond climate. The entity has a restricted list for companies with significant revenue from oil sands and thermal coal but does not disclose a strategy to phase out financing for fossil fuel projects unless aligned with a 1.5-degree trajectory. It is advised to monitor scope 3 emissions, establish a transition plan, and ensure emissions reduction aligns with interim targets. The total assets are reported at 137 million USD, but there is no evidence of operations being limited to the USA. Additionally, it is recommended to include risks related to ILO rights in its risk assessment process and to provide examples of actions taken on salient human rights issues from recent assessments. Moreover, the institution has a publicly available statement on ILO fundamental rights at work, but lacks a formal policy approved by its highest governance body. It has opportunities to disclose its methods for determining a living wage and to prohibit bribery and corruption.

This scorecard refers to information in English which was publicly available by July 15 2024. AuM and Total assets are stated in USD for comparability and have been calculated based on reported local currency values multiplied by applicable IMF currency converter values.