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Arizona

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.
  • 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.

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.

By Asset Manager

Goldman Sachs Funds

Percentage of times Mgr. voted “for” pro-ESG proposals:

6%

UBS Funds

Percentage of times Mgr. voted “for” pro-ESG proposals:

48%

Baird Funds

Percentage of times Mgr. voted “for” pro-ESG proposals:

56%

Blackstone Funds

Percentage of times Mgr. voted “for” pro-ESG proposals:

84%

Asset Manager Voting

Pro-ESG

17.4%

Anti-ESG

1.3%

Anti-Fossil Fuels

19%

Anti-Pollution/Waste

16%

Animal Rights

10%

DEI

13%

Weapons/Defense

6%

Human Rights

19%

Income Equality

15%

Political Speech/Lobbying Spending

21%

Health Care

13%

Race/Gender targets on Boards

16%

Non-Pecuniary Corporate Purpose

7%

ESG-Focused Governance

5%

Abortion

14%

Pro-Fossil Fuel

1%

Equality not DEI

1%

Controversial Cause Support

1%

Geopolitical Rivals/China

2%

State Voting

Pro-ESG

16.3%

Anti-ESG

0%

Anti-Fossil Fuels

27%

Anti-Pollution/Waste

10%

Animal Rights

0%

DEI

45%

Weapons/Defense

40%

Human Rights

59%

Income Equality

23%

Political Speech/Lobbying Spending

42%

Health Care

5%

Race/Gender targets on Board

100%

Non-Pecuniary Corporate Purpose

86%

ESG-Focused Governance

22%

Abortion

20%

Pro-Fossil Fuel

0%

Equality not DEI

0%

Controversial Cause Support

0%

Geopolitical Rivals/China

0%

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