Stewardship at the SBI encompasses proxy voting, direct engagement with portfolio companies, and the monitoring of governance practices that impact risk and long-term performance. Our approach is designed to evolve as necessary to remain consistent with our mission and the long-term interests of our beneficiaries.
Stewardship activities are anchored in our fiduciary duty and the SBI’s Investment Beliefs, which provide the framework for our actions and acknowledge our responsibility to the State’s retirement systems.
- Since 2017, the SBI has held that utilizing engagement initiatives can lead to improved portfolio and governance outcomes.
- In 2024, the SBI expanded these beliefs to reflect a commitment to addressing all material risks and opportunities. This ensures our investment approach remains forward-looking and rooted in the analysis of structural forces that shape the investment landscape.
The SBI maintains active memberships in several professional organizations, including the Council of Institutional Investors (CII), Investor Coalition for Equal Votes (ICEV), and the Institutional Limited Partners Association (ILPA). Participation in these groups facilitates the exchange of best practices and provides diverse perspectives on systemic investment issues.
The SBI seeks to incorporate all material factors into its investment analysis. We fulfill this commitment by regularly evaluating how external managers integrate all material risks and long-term considerations into their due diligence and decision-making processes.
Board Resolutions
SBI Resolution on ESG Initiatives (2020) (PDF)