Boston Common Asset Management commends the city of Boston for its ESG investment initiative and first steps towards active ownership
BOSTON, MA//February 28, 2019 – Boston Common Asset Management commends the Boston Mayor’s office for its adoption of an ESG Investment policy which will see upwards of $150 Million of its operating funds invested fixed income securities of socially responsible companies. The announcement came in advance of a hearing on ‘Pension fund disclosure, socially responsible investment, and reinvestment,’ called by City Councilors Lydia Edwards, Michelle Wu, and Matt O’Malley on Thursday Feb 28th. Boston Common’s Lisa Hayles provided testimony at the hearing as part of a panel of sustainable investment firms. As one of our recommendations was that the City of Boston ‘join a supportive community of investors collaborating to increase responsible behavior among corporations,’ we were delighted to see they had become a member of CERES.
Boston’s new ESG investment policy and CERES membership are good first steps for the city to take in expanding the consideration of ESG factors for all their assets. We look forward to collaborating with our peers in the sustainable investment community, the Boston City Council, and other community stakeholders to seeing Boston adopt a policy covering 100% of its operating assets and its pension plan.