Source: AI-CIO.com
Public pension funds strongly support environmental, social and governance shareholder resolutions, Morningstar data show.
According to a Morningstar research report released this month, public pension funds’ average rate of support for ESG resolutions was 90% in 2021, compared with 85% of ESG-focused funds and 63% of general shareholders.
“Basically, public pension funds’ voting behavior looks very similar to mutual funds and [exchange-traded funds] that focus on ESG issues,” says Janet Yang Rohr, director for multi-asset and alternatives research, North America at Morningstar. “[Public pension funds] actually vote more strongly with ESG issues compared with ESG-focused funds, where the reason for being is to support ESG items.”