Climate advocacy groups are calling on state public pension systems to use their proxy voting power to address environmental-related financial risk, arguing that even blue states lag in influencing corporate behavior.
The effort includes a report released Tuesday by the Sierra Club, Stand.earth, and Stop the Money Pipeline that analyzed public pension proxy voting guidelines, records, and transparency in states mostly led by Democrats. The report recommends state pensions strengthen policies around climate-related risk and argues that mitigating those risks falls under their fiduciary duty.
The push highlights the growing policy divide over how states should manage public pension assets ...