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October 19, 2022

US academics lead complaint against TIAA’s ESG gap

Clients ask PRI to act over pension fund if it does not divest from unsustainable assets, which include land in Brazil and a coal mine in Australia.

More than 300 clients of the $1.2tn Teachers Insurance and Annuity Association of America-College Retirement Equities Fund, or TIAA, have filed a formal complaint with the UN Principles for Responsible Investment initiative. The complainants, which include well-known US academics, say the retirement fund’s substantial fossil fuel and deforestation investments are incompatible with responsible investment principles. 

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