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Rhode Island

Rhode Island has one main public pension fund:

  • The ERSRI board represents nearly all state and municipal employees; the board consists of 15 members: 3 Ex Officio (General Treasurer, Director of Administration, Director League of Cities and Towns); 2 appointed by the Governor; 2 appointed by the General Treasurer; 1 appointed by the Director of Administration; 7 elected members of ERSRI.

Rhode Island discloses its pension fund’s specific proxy voting records on this website.

The first table utilizes the state’s publicly disclosed proxy voting records for public securities that it directly owns through pension fund portfolios. The second table uses the aggregated proxy voting records of the state’s asset managers, who manage the pensions’ stock market portfolio either through mutual funds or ETFs, and are therefore exercising proxy voting privileges as well. Both of these tables are necessary to reflect an accurate and comprehensive picture of the state’s proxy voting records.

Averages

Pro-ESG

Anti-ESG

State Voting Average

84%

State Voting Average

18.52%

State Rank

5th

State Rank

47th

Asset Manager Average

30%

Asset Manager Average

3%

By Asset Manager

Fidelity Insitutional Asset Management LLC

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

23%

JP Morgan Asset Management

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

29%

Loomis Sayles

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

29%

State Street Funds

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

30%

State Street Global Advisors

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

30%

Asset Manager Voting

Board Diversity:

15%

Require Environmental/Social Qualifications:

0%

Establish Environmental/Social Committee:

1%

Link Executive Pay to Social Goals:

7%

Climate Change:

26%

GHG Emissions:

34%

Climate Change Action:

19%

Report on Healthcare/Abortion:

3%

Weapons-Related Proposals:

3%

Social Proposal:

10%

Income Inequality:

4%

Political Activities and Action:

4%

Political Contributions and Lobbying:

24%

Political Lobbying Disclosure:

32%

Racial Equity Audit:

26%

Management Environmental Proposals:

97%

Anti-Social:

2%

Charitable Contributions:

4%

State Voting

Board Diversity:

100.0%

Require Environmental/Social Qualifications:

100.0%

Establish Environmental/Social Committee:

100.0%

Link Executive Pay to Social Goals:

100.0%

Climate Change:

97.9%

GHG Emissions:

100.0%

Report on Healthcare/Abortion:

100.0%

Weapons-Related Proposals:

100.0%

Social Proposal:

96.9%

Income Inequality:

100.0%

Political Activities and Action:

83.3%

Political Contributions and Lobbying:

100.0%

Political Contributions and Lobbying:

100.0%

Racial Equity Audit:

73.3%

Management Environmental Proposals:

100.0%

Anti-Social:

28.6%

Charitable Contributions:

7.7%

**The Retirement Systems of Alabama (RSA) has denied that State Street invests equities or casts proxy votes for the State. RSA has yet to publish its proxy voting records or disclose its investment managers. RSA’s public records list State Street a custodial bank and as a fund manager. No other investment managers are named in RSA public records, which is what is reported on the 1792 Exchange Proxy Database. RSA claims that Glass Lewis conducts its proxy voting. 1792 Exchange encourages RSA to publish these voting records in order that these records might be updated on this page. 1792 Exchange also encourages RSA to retain authority over proxy voting for ESG resolutions and not entrust these duties to Glass Lewis, a firm the Attorney General of Alabama has investigated for promoting ESG priorities at the expense of fiduciary responsibility.

Disclaimer: The information contained in this report, ‘Proxy Voting,’ is intended for educational purposes only and does not constitute financial or investment advice. Click here for the full disclaimer.

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