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Our overriding fiduciary responsibility is to manage investments with the highest standard of professional conduct to maximize investment return at a prudent level of risk for the exclusive benefit of fund participants and beneficiaries.

In addition to the Washington State Investment Board's fiduciary obligations, it has a financial responsibility to expect that corporations in which the state's monies are invested meet a high standard of conduct in their operations, especially where this helps preserve long-term shareholder value.
WSIB ESG Report - 2018
WSIB invests retirement and other funds in well diversified global portfolios designed to manage risk across different markets and conditions including economic, geopolitical concerns, and other pertinent issues that could negatively or positively impact investment performance over the long term.

As a global investment organization, questions about risks associated with governance, climate change, other environmental issues, and social concerns have become more prominent and serious considerations for the WSIB. While the WSIB recognizes that many risks and benefits associated with responsible investing are difficult to quantify, it believes all risks in WSIB's investment process should be given thoughtful consideration, including evolving global challenges which impact a long-term investment horizon.

Most of the WSIB's investments are externally and passively managed, consequently divestment would be a difficult and costly exercise. Additionally, we believe the best course of action is to exercise our voice through company and fund manager engagement, teaming up with other investment and corporate governance organizations, and working with peers to influence constructive and meaningful change.

So why engage with companies whose operations are at the center of issues like climate change? We know that fossil fuels will be the main energy source for the global economy for years to come. Having a voice in the oversight of these businesses makes it possible to influence their practices and their role in public policy.

Below are links to information about these organizations and what they are doing to assist the WSIB in responsibly identifying, addressing, and managing the risks associated with these important issues.
Asian Corporate Governance Association (ACGA)
CDP
Climate Action 100+
Ceres
Council of Institutional Investors (CII)
Embankment Project for Inclusive Capitalism
Focusing Capital on the Long Term (FCLTGlobal)
Coalition for Inclusive Capitalism
International Limited Partners Association (ILPA)
Investor Stewardship Group (ISG)
Millstein Center
The Rise Fund
Society for Corporate Governance (the Society)
Thirty Percent Coalition
Walden Asset Management
We're Still In
World Economic Forum
WSIB Climate Change Investment Belief
WSIB Proxy Voting Guidelines
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