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New Mexico

New Mexico has two main public pension systems: the Public Employees’ Retirement Association of Mexico (PERA) and the New Mexico Educational Retirement Board (ERB).

  • The PERA board represents all eligible public employees; the board consists of 12 members: 2 Ex Officio (Secretary of State, State Treasurer); 4 elected by state members; 4 elected by municipal members; 2 elected by PERA retirees.
  • The ERB represents public school teachers and employees and consists of 9 members: 1 Ex Officio (State Treasurer); 2 members appointed by the Governor; 2 members appointed by the National Education Association of New Mexico; 1 member appointed by the Public Education Department; 1 member appointed by the Department of Higher Education; 1 member appointed by the American Association of University Professors; 1 member appointed by the American Federation of Teachers.
    • The ERB discloses its proxy voting records for directly owned equities on this website.
    • According to a September 2024 document, the NMERB’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 ERB’s proxy voting records for directly owned securities through pension fund portfolios. The 1792 Exchange commends the ERB for publicly disclosing this information online for its pensioners. The 1792 Exchange encourages PERA 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

ACM Funds

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

0%

BlackRock Funds

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

7%

Neuberger Berman Funds

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

29%

PIMCO Funds

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

85%

Principal Funds

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

46%

UBS Funds

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

48%

Blackstone Funds

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

84%

RBC Funds

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

37%

Brookfield Funds

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

48%

Kayne Anderson Funds

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

29%

Asset Manager Voting

Pro-ESG

18.3%

Anti-ESG

1.3%

Anti-Fossil Fuels

26%

Anti-Pollution/Waste

29%

Animal Rights

20%

DEI

25%

Weapons/Defense

17%

Human Rights

28%

Income Equality

31%

Political Speech/Lobbying Spending

32%

Health Care

18%

Race/Gender targets on Boards

45%

Non-Pecuniary

15%

ESG-Focused Governance

17%

Abortion

15%

Pro-Fossil Fuel

2%

Equality not DEI

1%

Controversial Cause Support

1%

Geopolitical Rivals/China

2%

State Voting

Pro-ESG

47%

Anti-ESG

2%

Anti-Fossil Fuel

45%

Anti-Pollution/Waste

64%

Animal Rights

44%

DEI

43%

Weapons/Defense

20%

Human Rights

45%

Income Equality

77%

Political Speech/Lobbying Spending

71%

Health Care

28%

Race/Gender targets on Boards

100%

Non-Pecuniary Corporate Purpose

0%

ESG-Focused Governance

22%

Abortion

10%

Pro-Fossil Fuel

0%

Equality not DEI

4%

Controversial Cause Support

0%

Geopolitical Rivals/China

0%

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