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Tennessee

Tennessee has one main public pension fund administrator:

The TCRS board represents all eligible state and local employees and consists of 20 members: 9 Ex Officio (State Treasurer, Director of TCRS, Chair of the Legislative Council on Pensions and Insurance, Vice-Chair of the Legislative Council on Pensions and Insurance, Commissioner of Human Resources, Commissioner of Finance and Administration, Comptroller of the Treasury, Secretary of State, Administrative Director of the Courts), 2 appointed by the Governor, 3 teachers appointed by the Speaker of the Senate and the Speaker of the House of Representatives, 1 retired teacher appointed by the Speaker of the Senate and the Speaker of the House of Representatives, 1 appointed by the Tennessee County Services Association, 1 appointed by the Tennessee Municipal League, 1 appointed by the Tennessee County Officials Association.

Averages

Pro-ESG

Anti-ESG

State Rank

48th

State Rank (Anti-ESG):

8th

Asset Manager Average

57%

Asset Manager Average (Anti-ESG):

7%

By Asset Manager

American Century Investment Management

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

78%

JP Morgan Asset Management

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

58%

Mondrian Investment Partners

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

58%

State Street Funds

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

57%

Pzena Investment Management, LLC

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

57%

Acadian Asset Management

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

57%

Fiera

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

57%

WCM

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

57%

Asset Manager Voting

Board Diversity:

42%

Require Environmental/Social Qualifications:

50%

Establish Environmental/Social Committee:

35%

Link Executive Pay to Social Goals:

45%

Climate Change:

58%

GHG Emissions:

58%

Climate Change Action:

47%

Report on Healthcare/Abortion:

32%

Weapons-Related Proposals:

30%

Social Proposal:

41%

Income Inequality:

38%

Political Activities and Action:

11%

Political Contributions and Lobbying:

52%

Political Lobbying Disclosure:

69%

Racial Equity Audit:

51%

Management Environmental Proposals:

77%

Anti-Social (Anti-ESG):

6%

Charitable Contributions:

8%

**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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