We have expanded the list of climate policies we assess company engagement with to incorporate land-use related policy, referring to legislative or regulatory measures to enhance and protect ecosystems and land where carbon is being stored. Assessments under this category are currently underweighted in terms of their contribution to the overall company metrics. This weighting will be progressively increased over the next 6 months.
We adjusted the terminology used to describe the queries running down the left-hand side of our scoring matrix and added additional explanatory text to the info-boxes. This has no impact on the scores and methodology. It has been done following user feedback to improve clarity.
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Craig DeSanto is on the board of the ACLI, serving through 2022.
Craig DeSanto (President and CEO-Elect, New York Life Insurance)
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Craig DeSanto is on the board of the ACLI, serving through 2022.
Craig DeSanto (President and CEO-Elect, New York Life Insurance)
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of March 2022, Ted Mathas is a member of Business Roundtable.
Ted Mathas (Chairman and CEO, New York Life Insurance)
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of March 2022, Ted Mathas is a member of Business Roundtable.
Ted Mathas (Chairman and CEO, New York Life Insurance)
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
New York Life Investment Management, a subsidiary of New York Life Insurance Company, is a member of SIFMA.
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
New York Life Investment Management, a subsidiary of New York Life Insurance Company, is a member of SIFMA.
not specified
--no extract--
In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.
Open PDF file of Data Source
New York Life Insurance Company (New York Life) does not appear to have significantly engaged with sustainable finance policies. There is evidence of some sustainable finance policy monitoring by its investment management arm, New York Life Investments, but no clear position taking or engagement activity has been found.
New York Life’s Environmental Sustainability Statement states that the company is collaborating with its business partners on “climate action” but level of ambition for this action is unclear. A 2021 insights paper from New York Life Investments appears to support urgent action to tackle climate change. In March 2021, New York Life Investments released a tweet that discussed upcoming climate-related financial regulation in the US, but did not take a clear position on the need for this regulation.
In that tweet, New York Life Investments described steps taken by the Federal Reserve and the SEC on mandatory corporate climate disclosures, but did not outline a clear policy position. It also mentioned a US Treasury suggestion about incorporating climate risk into its supervisory stress testing, but did not take a position on this potential policy. A New York Life Investments insights paper from 2021 mentions meeting with regulators to understand efforts to incorporate ESG into their operations, including bank stress testing, but does not outline a position.
New York Life does not appear to have disclosed information about any sustainable finance policies it is tracking or any efforts to influence policies. Its investment management subsidiary, New York Life Investments, has mentioned some policies it is tracking but has not taken clear positions on these policies or detailed any engagement with policymakers and regulators. New York Life has not disclosed its membership to any industry associations despite being a member of the American Council of Life Insurers and the Institute of International Finance, among others.