Arizona
56 Companies Headquartered in Arizona
Amkor, Arizona Public Service Company, Audioeye, Avnet, Axon Enterprise, Benchmark Electronics, Best Western, Blue Yonder, Inc., Cable One, Carlisle Companies Incorporated
Arizona Average CBR Summary
Avg. Company Rating
Avg. Rating Criteria
| Criteria | Risk Level |
|---|---|
| Cancellations | Lower Risk |
| Discriminatory Philanthropy | Medium Risk |
| Employment Protection | Medium Risk |
Corporate Weaponization
| Criteria | Risk Level |
|---|---|
| Advocacy Bias | Medium Risk |
| Funding | Medium Risk |
| Political Actions | Medium Risk |
Corporate Governance and Public Policy
State Leadership
State Pension Fund Summary
Arizona has two main public pension systems: the Arizona State Retirement System (ASRS) and the Public Safety Personnel Retirement System (PSPRS).
- ASRS covers more than a half-million state and municipal employees. The ASRS board consists of 9 members: All members are appointed by the governor and confirmed by the Senate.
- According to a 2024 Board Report, the ASRS’s investment consultant is NEPC.
- According to its 2023 Annual Comprehensive Financial Report, proxy voting is handled by ASRS’ asset managers and voting records are monitored for consistency with both the asset manager’s voting policy and the third-party proxy voting policy. ASRS “retains the right to direct external equity managers’ voting on any issue(s) if doing so is deemed beneficial to the Fund.”
- According to a Freedom of Information Act (FOIA) request, ASRS uses GlassLewis for its proxy advisory services.
- PSPRS covers first responders, corrections officers, elected officials, and judges. The PSPRS board consists of 9 members: 5 appointed by the governor; 2 appointed by the Senate President; 2 appointed by the House Speaker.
- According to its Investment Team page, the PSPRS’s general investment consultant is NEPC.
The “By Asset Manager” and “Asset Manager Voting” tables show the proxy voting records of the state’s asset managers who manage the pensions’ stock market portfolio through index, exchange-traded, or mutual funds. Since these are externally managed funds, the asset managers typically retain and exercise proxy voting privileges. This data is used to calculate the state’s pro-ESG and anti-ESG scores to see how the state leverages its externally managed funds in proxy voting.
The “State Voting” table shows the state’s proxy voting records for directly owned securities through pension fund portfolios. The data in this table only represents the ASRS. This data was obtained by a Freedom of Information Act (FOIA) request since Arizona does not publicly disclose this information to its pensioners. The 1792 Exchange encourages Arizona to publish its proxy voting records instead of keeping its pensioners in the dark about how the state votes on ESG issues with their money.
Both tables are important to show a comprehensive picture of the state’s proxy voting record.