The $273 billion New York State Common has upped the pressure on portfolio companies to report on how artificial intelligence usage is contributing to layoffs, as AI governance becomes a growing focus in the proxy voting and engagement activities of asset owners.
The Cost Transparency Initiative has entered its pilot phase, in which five of its templates will be tested in coming weeks. Data from the testing will be used to rationalise templates across the industry. The idea is to provide consistency of clarity of fees and costs, so trustees can compare funds easily.
An Australian case brought by a millennial against his pension fund is a world first and will make law on whether trustees breach their fiduciary duties when they ignore climate change.
The sheer weight of money behind the world’s largest 100 asset owners represents a huge opportunity to show leadership in the allocation of capital. A Willis Towers Watson report reveals the 100 largest and which ones are meeting the challenge.
The C$60 billion ($48 billion) Investment Management Corporation of Ontario, the latest kid on the block in Canada’s pension scene, is planning its asset allocation 2.0, which will involve more private and direct investments, more internalisation and lower costs. Amanda White spoke to chief executive Bert Clark and chief investment officer Jean Michel.
At the recent #actionsnotwords event in London, executives told of addressing philosophical blindspots, setting up flexible work hours, adding more drivers for recruitment and more.
A group of more than 50 investors has formed to help raise awareness and standards for data protection. As related risks become a primary concern for directors, PRI is co-ordinating efforts.
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Governance