Virginia Retirement System is an independent state agency based in Richmond, USA. It delivers retirement and other benefits to covered more than 750,000 Virginia active and inactive public sector employees. Members include public school teachers, political subdivision employees (cities, towns, special authorities and commissions), state agency employees, public college and university personnel, state police, Virginia law officers and the judiciary. Approximately 835 employers participate in Virginia Retirement System.
In terms of its approach to senior leadership accountability, Virginia Retirement System has an opportunity to assign responsibility for sustainability to its highest governing body and link the remuneration of its executive and 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 Virginia 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 Virginia 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 26.56 billion; Total assets: USD 113.58 billion