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Rhode Island

Rhode Island has one main public pension system: The Rhode Island Employees’ Retirement System (ERSRI). The investments of the ERSRI are overseen by the Rhode Island State Investment Commission (SIC).

  • The SIC board consists of 10 members: 3 Ex Officio (State Treasurer, Director of Administration, Executive Director of the state retirement board); 1 active or retired teacher, state, or municipal employee member of the retirement system or official from the teacher, state, or municipal employee unions to be appointed by the general treasurer; 3 members of the general public to be appointed by the general treasurer; 3 members of the general public to be appointed by the governor.

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 ERSRI’s proxy voting records for directly owned securities through pension fund portfolios. The 1792 Exchange commends ERSI for publicly disclosing this information online for its pensioners.

Both tables are important to show a comprehensive picture of the state’s proxy voting record.

By Asset Manager

Fidelity Funds

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

14%

Loomis Sayles

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

25%

State Street Funds

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

18%

State Street SSGA

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

19%

Asset Manager Voting

Pro-ESG

15.5%

Anti-ESG

1.4%

Anti-Fossil Fuels

13%

Anti-Pollution/Waste

20%

Animal Rights

13%

DEI

18%

Weapons/Defense

4%

Human Rights

20%

Income Equality

24%

Political Speech/Lobbying Spending

15%

Health Care

3%

Race/Gender targets on Boards

21%

Non-Pecuniary

2%

ESG-Focused Governance

3%

Abortion

6%

Pro-Fossil Fuel

1%

Equality not DEI

1%

Controversial Cause Support

2%

Geopolitical Rivals/China

2%

State Voting

Pro-ESG

96%

Anti-ESG

0%

Anti-Fossil Fuel

98%

Anti-Pollution/Waste

100%

Animal Rights

100%

DEI

97%

Weapons/Defense

100%

Human Rights

98%

Income Equality

100%

Political Speech/Lobbying Spending

90%

Health Care

100%

Race/Gender targets on Boards

100%

Non-Pecuniary Corporate Purpose

100%

ESG-Focused Governance

88%

Abortion

90%

Pro-Fossil Fuel

0%

Equality not DEI

0%

Controversial Cause Support

0%

Geopolitical Rivals/China

0%

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