United States: Shareholder Activism Or Divestment? The Massachusetts Pension Fund Chooses Activism
The Boston Globe reported yesterday that the Massachusetts Pension Reserves Investment Management Board approved investment guidelines that would have the Board vote against directors of companies in which the Board invests where the company does not have a plan to reach net zero carbon emissions by 2050.
As the Globe notes, there is something of a debate among climate activists whether it is better to support divestment or the kind of activism represented by the Board’s action yesterday. In that context, the Globe noted Engine No. 1’s success last year in challenging Exxon directors.
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