Our Investments

We believe integrating ESG factors into investment analysis may contribute to improved returns, reduces risk over the long term and aligns with our stakeholders’ best interests. We recognize the importance, relevance and significance of assessing ESG topics in the sustainability performance of the entities in which we invest.

Responsible Investing

Our Responsible Investing (RI) Policy, adopted in early 2022, provides a framework for governance, investment strategy, engagement, reporting and communications. In developing the RI Policy, we considered the six principles set forth by the United Nations Principles of Responsible Investment (UN PRI). The RI Policy reflects our approach to sustainable value creation by considering ESG factors, including climate change, in the investment process for all asset classes under our management.

View Responsibile Investing Policy

Making Responsible Investments

A continued focus on ESG factors remains core to our decision-making and inclusion of responsible investments in the portfolio. As of Dec. 31, 2023, we had $227 million invested in green bonds issued to fund green projects, activities that promote climate change mitigation or adaptation, or other environmental sustainability purposes.

As shown, our commitment to responsible investing remains stable year-over-year.

Bar Chart of Responsible Investing: ESG, $298 million in 2022 and $294 million in 2023. Social, $94 million in 2022 and $155 million in 2023. Governance, $105 million in 2022 and $99 million in 2023. Environmental, $275 million in 2022 and $371 million in 2023.

2022 Total investment: $772 million,
which is approximately 3% of Assets Under Management (AUM) as of Dec. 31, 2022.

2023 Total investment: $919 million,
which is approximately 3% of AUM as of Dec. 31, 2023.

Assets with UN PRI

We recognize the commitment that becoming a UN PRI signatory requires and highlight our asset owners or asset managers that have achieved this distinction. Our assets managed by UN PRI signatories improved year-over-year, representing 30% of the total AUM and 84% of the total externally managed assets, approximately $12.2 billion as of Dec. 31, 2023.

Investments with managers that are UN PRI Signatories ($M)

Bar chart. Fixed income, $3,155,000,000 in 2022 and $5,505,000,000 in 2023. Equities, $675,000,000 in 2022 and $793,000,000 in 2023. Alternatives, $3,223,000,000 in 2022 and $4,030,000,000 in 2023.

2022 Total investment: $7.1 billion,
which is approximately 25% of AUM as of Dec. 31, 2022.

2023 Total investment: $10.3 billion,
which is approximately 30% of AUM as of Dec. 31, 2023.

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