ESG REPORT | 2020 – 2021
At New York Life Investments, ESG investing means balancing potential with principles. Companies that operate responsibly and act as good corporate citizens have the potential to deliver competitive returns over the long term. Investing in these companies can help strengthen the financial health of our clients and stakeholders while also supporting a more sustainable future.
A New Era in
While ESG rules and standards continue to develop, we are moving forward by engaging with our clients, issuers, and peers to identify risks, collaborate on solutions, and share new learnings and best practices. Our multi-boutique model has empowered us to exchange perspectives and insights on a global scale, and it’s empowering New York Life Investments1 to continue its goal to be an industry leader in ESG and help move toward a more sustainable future.
Executive Vice President & Chief Investment Officer
New York Life Insurance Company
Chief Executive Officer
New York Life Investment Management2
By sharing our progress, we hope to inspire more action, conversation, and collaboration among organizations and individuals around the world.
Our commitment to ESG investing is rooted in a set of foundational beliefs. These beliefs connect our values to our processes and underpin the ways in which we invest, help build up our communities, and conduct business on behalf of our clients.
We believe it’s our responsibility to consider material ESG factors as we make investment decisions.
At New York Life Investments, we believe that an ESG approach that considers multiple stakeholder perspectives can help guard against risks that can’t be fully evaluated using traditional financial measures alone. When ESG considerations most relevant to the asset class, sector and strategy being managed inform our process, it can help mitigate risks. It may also help our clients generate sustainable, long-term returns — all while working to create a better future for our communities and the planet.
“ESG is a priority at New York Life Investments and has been growing in scope and importance. We are committed to work together across our boutique family — each of us at a different stage of our ESG journey — to drive progress and learn from one another.”
Head of U.S. Sustainable Investing, NYLIM
For companies around the world, the pandemic has proven to be a powerful call to action on ESG issues. It brought new challenges to the forefront and pushed companies to not just focus on their shareholders but widen their aperture to include all stakeholders. At New York Life Investments, we’re encouraged to see this broadened viewpoint. It further supports our conviction that ESG is more than an acronym — it is an outlook. Investing in companies that are good corporate citizens ultimately can help build a stronger society.
We believe collective climate action is an investment in future generations.
Our current times present both challenges and opportunities. Take the climate: A report by Deloitte indicates that inaction on climate change could cost the world’s economy $178 trillion in net present value terms by 2070. Yet the same report also revealed that the world’s economy could gain $43 trillion in net present value terms over the next 50 years if it accelerates toward a path of low-emissions growth.3
4,940,000 square meters
of mangrove restoration
Reforestation in Senegal
Candriam, New York Life Investments’ global, multi-specialist asset manager, sets aside 10% of net fees from several of its sustainable and thematic strategies to finance philanthropic programs through the Candriam Institute for Sustainable Development (the Institute). In 2021, donations amounted to €2.9 million. Through the Institute, Candriam partnered with WeForest, a nonprofit organization which works towards the reforestation of degraded land in primarily tropical regions. WeForest deploys best practices that relate to landscape restoration, poverty alleviation, and social justice. Starting in 2021, Candriam made a three-year commitment to the restoration of 4,940,000 square meters of mangroves along the Casamance River in southern Senegal.4
We believe investing in people and communities will fuel innovation, progress, and growth.
Investment management is a people-first business. The decisions we make affect our clients and employees and have the power to transform the communities in which we conduct business and invest around the globe.
Supporting Local Farmers
IndexIQ launched its first ETF in the Dual Impact suite, IQ Healthy Hearts ETF (HART),5 which seeks to invest in companies that support heart health to combat heart disease, one of the leading causes of death in the world. The fund’s strategy was developed in alignment with the American Heart Association and makes contributions to the group’s Social Impact Fund, which invests in local entrepreneurs and organizations breaking down social and economic barriers to health equity. One of those organizations is the Hmong American Farmers Association (HAFA), which sub-leases farmland to local Hmong farmers to support intergenerational wealth creation and provides continuing education in sustainable agricultural practices.
“The HAFA Farm is such an audacious project because it provides Hmong farmers access to land tenures.”
Co-Founder & Executive Director of HAFA
Click on the fund name link which includes the prospectus, investment objectives, performance, risk, and other important information. Visit newyorklifeinvestments.com/etf for more complete information.
At New York Life Investments, we draw upon deep domain expertise to help clients reach their specific financial goals. With the same autonomy and perspective, our businesses are empowered to integrate ESG considerations into their investment approaches in the ways most relevant to their clients, asset classes, and geographies.
We invite you to see their progress and hear from the leaders charting the way forward.
Advancing and Advocating the Principles for Responsible Investment
The United Nations Principles for Responsible Investment (PRI) is an international organization that works to promote the incorporation of environmental, social, and corporate governance factors into investment decision-making. Every business across the New York Life Investments family is a signatory of the six Principles for Responsible Investment.
A History of Commitment
Every New York Life Investments business is a PRI Signatory:
New York Life Investment Management LLC
Tristan Capital Partners
Read more in the 2020-2021 ESG Report