March Monthly Commentary
Volatility roiled markets in the first quarter as investors grappled with the potential economic fallout of the COVID-19 pandemic. Economies across the world screeched to an abrupt halt in the face of travel restrictions and containment efforts, sending the CBOE Volatility Index, a barometer of market sentiment, to over 80 during the quarter before settling […]
UUCEF Investor Letter
A message from the UUA’s Treasurer, Andrew McGeorge, and Investment Committees. Dear Investors: We hope that you are well. The growing concern about the spread of the new coronavirus (COVID-19) has rattled markets as investors struggle to assess the full extent of its economic impact. In times like these, we believe it is important to […]
Acting Amid Uncertainty
A message from NEPC, the UUCEF’s investment advisory firm. The rapid spread of the new coronavirus (COVID-19) has rattled markets as investors struggle to assess the full extent of its economic impact. While its toll over the long term on businesses and economies is yet to be determined, the uncertainty has fueled a repricing of […]
February Monthly Commentary
February marked a particularly volatile month for capital markets with fears intensifying over the new coronavirus (COVID-19) turning into a pandemic as the number of new cases appearing outside of China outpaced those within China. In response, the CBOE Volatility Index shot up to 40.11, a new high since 2015. Global equities were the hardest […]
Blackrock agrees to expand disclosure on lobbying
For the third year in a row, the Unitarian Universalist Association filed a shareholder resolution with Blackrock asking the company to improve its disclosure of lobbying expenditures and policies. The proposal was nearly identical to that in the 2019 proxy statement. This week the UUA announced that it has withdrawn this year’s resolution after the company […]
January Monthly Commentary
After turning in a stellar performance in 2019, equities initially started the new decade on a high note, bolstered by a trade pact between the United States and China. However, optimism quickly gave way to fear amid the outbreak of the coronavirus that originated in Wuhan, China, resulting in a lackluster month for global stocks. […]
UUA Opposes SEC Rules That Stifle Investor Voices
The Securities and Exchange Commission (SEC) has announced new rules that would severely limit the ability of investors to file shareholder resolutions. The SEC proposals are a particular threat to proposals addressing environmental and social issues. On January 28, the Unitarian Universalist Association (UUA) submitted an official comment letter to the SEC stating, “We are […]
Three Reasons Investors Should Give ExxonMobil’s 2020 Climate Report the Thumbs-Down
This week, ExxonMobil quietly published its 2020 Energy & Carbon Summary, the company’s latest report in response to rising shareholder demands for improved climate risk disclosure. Kathy Mulvey, Chair of the UUA Socially Responsible Investing Committee, says investors should not be duped by this slick, self-serving attempt by the oil and gas giant to claim that it’s doing […]
December Monthly Commentary
Global equities went out with a bang, building on their already robust returns for the year, with the MSCI ACWI Index up 26.5% in 2019. US stocks led the charge with the S&P 500 Index returning 31.5% for the 12 months ended December 31. International and emerging markets also posted solid results, with the MSCI […]
Fossil fuel companies’ PR campaigns claim they’re helping to fight climate change. The reality is very different. Here’s what investors must do.
The world’s largest fossil fuel producers don’t have credible plans for achieving net zero carbon emissions, despite claiming they support the Paris Agreement. Investors must expect more, question more, and tolerate less from fossil fuel companies—and tell them to swiftly get on board with climate action, or get out of the way. Read more in […]