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Responsible Investing
Our Communities Responsible Investing
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At New York Life, we are deeply invested in our clients reaching their goals and creating positive outcomes for our people and the planet. Our family of independent investment boutiques and a wide range of insurance, investment, and retirement products serve diverse needs in a responsible way.
Investing in Our Future
Building a sustainable future is a priority for the company. We strive to include environmental, social, and governance (ESG) criteria in the due diligence for our investments.
New York Life’s investment objective is to preserve capital and deliver predictable investment results while generating above-market returns. Our $267 billion general account (as of 2019) and foundation have limited investments in tobacco, chemical weapons, and firearms.
NYL Investors became a Principles for Responsible Investment (PRI) signatory in May 2020, a United Nations-supported international network of investors working together to implement environmental, social, and governance (ESG) issues. They have many ESG initiatives, including pursuing LEED certification, Living Building, and Energy Star certifications for our commercial real estate properties. Additionally, the group participates in the Global Real Estate Sustainability Benchmark (GRESB), which tracks ESG progress within the real estate sector, and the group achieved an 11% improvement in its GRESB score year over year. Additional ESG efforts include growing investments in the renewable energy sector, including solar, wind, and hydroelectric infrastructure projects, which to date exceed $1B invested. Our suite of affiliated investment boutiques, investment managers that provide specialized investment options for particular segments of the market, offers diverse, independent thinking that translates to thoughtful solutions and customized strategies. By 2019, all our boutiques had signed on to the PRI. The launch of a Boutique Working Group enables our boutiques to share best practices, discuss shared challenges, and generate solutions and implementation strategies together.
Candriam, one of our boutiques in the EU, offers an Oncology Impact strategy, which invests in companies that diagnose and treat cancer. Ten percent of the strategy’s management fees are donated to leading cancer research institutes.
