NYC Reaches Deal With 4 Investment Firms To Disclose Race And Gender Of Directors

New York City Comptroller Brad Lander and the boards of four New York City pension funds have reached agreements with black rock, Goldman Sachs GroupJP Morgan Chase & Co. and Morgan Stanley to publicly disclose the race and gender of each director.

Mr. Lander, trustee of the five pension funds in the city’s $263.2 billion retirement system, also announced in a press release on Thursday that the pension funds had also filed a shareholder proposal with NextEra. Energy due to that company’s refusal to disclose the gender, race and/or ethnicity, or skills and experience of individual directors to investors.

This proposal asks the energy company to specifically disclose directors’ skills and experience in relation to climate-related risks.

“Spoken commitments to diversity and inclusion ring hollow if those values ​​aren’t reflected in the boardroom where decisions are made that impact their entire workforce,” Mr. Lander in the press release. “The strongest boards and leadership teams are those that reflect the diversity of their workforces and our communities.

The four pension funds that filed the shareholder proposal are the New York City Employees’ Retirement System, the New York City Teachers’ Retirement System, the New York City Fire Pension Fund and the New York City Board of Education Retirement System. As of March 31, the four pension funds together owned 2.2 million shares of NextEra Energy, valued at $186.3 million.

The five New York City pension funds each have individual boards of directors.

NextEra Energy officials could not immediately be reached for comment.