Climate Change Data

Environmental Metrics

ESG Focus Areas

• Sustainable Investing
• Diversity, Equity & Inclusion (DE&I)
• Community Engagement
• Climate Change
• Responsible Operations
• Human Rights

Environmental Achievements

• Improved GRESB scores for NYL Investors and Tristan Capital Partners (due to energy reductions, green building certifications)
• More than 50 new green building certifications pursued by Tristan in 2022
• New York Life's shift to cloud computing for greater access to renewable energy and more efficient power consumption
• Waste reduction initiatives at New York Life's 51 Madison Avenue headquarters (reusable trays, food donation)

Social Achievements

• New York Life's $1 billion impact investment initiative fully committed by October 2022, financing 100 small businesses, 15,000 units of affordable housing, and three homeless shelters
• Participation in The Equity Collective to develop diverse leaders in finance
• Internal training program "Bridging Blind Spots" to address unconscious bias
• Partnership with YearUp, hiring over 250 diverse interns since 2013
• Apogem's signatory status to the ILPA Diversity in Action initiative
• Candriam's strengthened inclusive youth empowerment program, awarding scholarships and launching a new educational program
• Numerous employee volunteer efforts (bicycle building, gift donations to shelters, financial education workshops)

Governance Achievements

• Establishment of NYL Investors' ESG Executive Committee to oversee responsible investing strategy
• Candriam's robust sustainable governance structure with multiple strategic committees
• MacKay Shields' focus on employee commitment, responsible investing, and community partnership
• Apogem's establishment of an ESG Committee and Subcommittee to oversee ESG initiatives
• Kartesia's integration of ESG practices into all stages of the investment cycle

Climate Goals & Targets

Environmental Challenges

• Geopolitical tensions, supply chain disruptions, and natural disasters in 2022
• Addressing the racial wealth gap in the United States
• Combating forced labor in the solar panel supply chain

Mitigation Strategies

• Devoted to fiduciary duty, values, and investment principles
• New York Life's $1 billion impact investment initiative
• Candriam's engagement with LONGi Green Energy Technology to improve its labor practices
• Ausbil's participation in the Australian government's implementation of the Modern Slavery Act
• MacKay Shields' focus on responsible investing and community partnership
• Apogem's commitment to enhancing ESG processes and integrating material ESG risks into investments
• Kartesia's ESG due diligence process and implementation of Reporting 21's platform for ESG data monitoring

Supply Chain Management

Responsible Procurement

• Ausbil's work on the Australian Modern Slavery Act

Climate-Related Risks & Opportunities

Opportunities

• Investments in cleaner energy solutions

Reporting Standards

Frameworks Used: SASB Asset Management and Custody Activities Standard, UN PRI

Certifications: LEED-EB Gold, Fitwel Two-star, BREEAM, DGNB, LEED, WELL, Fitwel (Tristan)

Awards & Recognition

• ShareAction ranking No. 11 out of 77 Asset Managers for Responsible Investing (February 2023)
• IndexIQ's 2022 Wealthie Award for New Product Development

Environmental Metrics

ESG Focus Areas

• Responsible Investing
• Diversity, Equity, and Inclusion
• Community Involvement
• Climate Change
• Human Rights
• Modern Slavery
• Energy Transition
• Fair Working Conditions
• Business Ethics

Environmental Achievements

• New York Life set a target to achieve a 30% reduction in operational Scope 1 and 2 carbon emissions by 2030 (based on a 2019 baseline). 4.6 metric tons of avoided emissions in 2023 due to lowered energy use in response to power grid stress.
• NYL Investors investments in renewable energy, green and social bonds, impact investing, PACE investments, and certified real estate properties exceeded $16 billion as of December 31, 2023.
• 61% of office investments within Tristan’s equity funds held green building certifications by the end of 2023.
• Tristan implemented asset-level initiatives to improve energy efficiency (e.g., installing EV charging points, heat pumps, PV systems).

Social Achievements

• New York Life’s Giving Campaign resulted in $6.12M for charitable organizations with 74% employee participation.
• NYL Investors supported various volunteer efforts, including partnering with Volunteers of America-GNY and City Harvest.
• Candriam’s Institute for Sustainable Development supported diverse impact initiatives, including the Red Cross’s international emergency fund.
• MacKay Shields fostered a culture of giving back through volunteer work and annual fundraising for charities.
• Apogem donated equipment to the Walt Disney World Boys and Girls Clubhouse.
• NYLIM LLC and IndexIQ partnered with nonprofits like the American Heart Association, American Cancer Society, Girls Who Code, National Wildlife Federation, and Oceana.
• Third Party Distribution’s sales conference included building red wagons for the Boys and Girls Club Carver Ranches.
• Kartesia expanded its philanthropic reach, partnering with the Olivia Hendrickx Research Fund and National Numeracy.

Governance Achievements

• NYL Investors formally assesses ESG factors in fixed income investment due diligence.
• NYL Investors applies a proprietary ESG score to issuers.
• Candriam has a dedicated team managing ESG research and analysis, with several strategic committees reporting directly to the Group Strategic Committee.
• MacKay Shields implemented a norms-based indicator to identify severe violators of UN Global Compact principles.
• Apogem undertook a comprehensive ESG materiality assessment.
• Apogem enhanced ESG analysis in its private equity due diligence process.
• Kartesia strengthened engagement with portfolio companies on ESG issues, focusing on energy transition, fair working conditions, and business ethics.

Climate Goals & Targets

Environmental Challenges

• Inflation, higher interest rates, talks of a recession, natural disasters, and increasing geopolitical uncertainty complicated the investment landscape.
• Data availability and standard calculation methodologies for financed emissions.

Mitigation Strategies

• Steadfast adherence to fiduciary duty and investment principles.
• Developing and implementing strategies to measure and assess climate risk (NYL Investors).
• Utilizing third-party tools to assess climate-related impacts (REI).
• Working on measuring financed emissions where data is available and standard calculation methodologies exist.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: SASB Asset Management and Custody Activities Standard

Awards & Recognition

• Candriam ranked as the top ESG brand among almost 600 asset managers globally by the H&K Responsible Investment Brand Index.
• Candriam ranked 21st among the top 50 brands in Europe by the Broadridge Fund Brand 50 report.
• IndexIQ was recognized as the 2023 Best ESG Fixed Income ETF Issuer ($100m+).
• Kartesia received the “AAA Best GP ESG reporting solution for LPs” and “AA Best ESG Manager of the Year” awards from ESG AAA European Awards.
• Kartesia received the “Responsible Investor of the Year 2023” award from Unquote British PE Awards.