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CalPERS, CalSTRS to Step Up Climate Change Engagement Efforts

CalPERS and CalSTRS have issued a joint statement recounting their track records on engaging corporations on the topic of climate change. The statement also outlines future initiatives aimed at stepping up their corporate engagement on the sustainability front. From the statement: We recognize climate change as a material risk to society, the economy, ...
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CalSTRS Updates Corporate Governance Principles; Supports Board Nomination Power For Prominent Shareholders

CalSTRS has updated its set of corporate governance principles to include support for proxy access – the right of a shareholder to nominate corporate board members. The pension fund supports giving proxy access to shareholders that own at least three percent of a company’s shares for at least three years. More from a release: The updated principles, ...
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California Bill Would Force CalPERS, CalSTRS To Divest From Coal

California Senate President Kevin de Leon has introduced a bill that would force the state’s pension funds to exit all coal investments. Additionally, CalSTRS and CalPERS would be prohibited from making new coal investments until 18 months after the bill becomes law. De Leon hinted in November that he would introduce such a bill, and the pension ...
CalSTRS

CalSTRS Looks to Partner Up For Direct Infrastructure Investments

CalSTRS is looking to team up with other institutional investors to bid directly on private infrastructure, according to the Wall Street Journal. The fund’s investment staff is meeting today [Feb. 6] to amend its investment policy to allow such ventures. More from the Wall Street Journal: The nation’s second-largest public pension fund, California ...
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San Diego County Pension Trustee Decries Investment Strategy, CIO in Newspaper

Samantha Begovich, a trustee for the San Diego County Employees Retirement Association (SDCERA), has penned a column in an area newspaper decrying the fund’s outsourced CIO, Salient Partners, and its investment strategy. The fund voted last year to move on from Salient Partners and hire an in-house CIO after critics called Salient’s investment ...
CalSTRS

CalPERS, CalSTRS Nab $300 Million From Settlement With S&P in Suit Over Mortgage Ratings

It was revealed today that credit rating agency Standards & Poor’s has entered a $1.375 billion settlement with 18 states over the alleged inflated ratings it gave mortgage-backed securities which eventually turned toxic. CalPERS and CalSTRS are the biggest individual beneficiaries of the settlement; the entities will receive more than $300 million ...
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CalSTRS Buys $470 Million New York City Office Building

As part of a joint venture with MHP Real Estate Service, CalSTRS has bought a 1.2 million square foot office property at 180 Maiden Lane in downtown New York City. The building is the former home of Goldman Sachs’ offices. From Investments and Pensions Europe: The US pension fund has invested $260m in the asset – around 55% of the deal – through ...
CalSTRS

CalSTRS Set To Receive Last $15 Million Payment from Congress

CalSTRS has received $315 million from the U.S. Congress since 1999. In 2015, the pension fund will receive one final payment from Congress totaling $15.6 million. What’s the purpose of the payment, and why are they stopping? The Daily Journal News explains: The California State Teachers’ Retirement System (CalSTRS) will receive its final $15.6 ...
CalSTRS

Improving CalSTRS Funding Comes at Cost for School Districts

California lawmakers acted earlier this year to improve the funding status of CalSTRS. That means higher payments from school districts – and recent budget forecasts are forcing schools to examine how these payments will strain their budgets. From the San Diego Union Tribune: A state-mandated sched-ule for replenishing California’s cash-strapped ...
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As Demand for Green Bonds Grows, So Does Desire for Transparency

There is growing demand for environmentally friendly investments, and as a result, “green bonds” have become an increasingly popular investment vehicle. For proof, look no further than CalSTRS, which increased its purchases of “green bonds” by 300 percent in 2014. But with increased popularity comes increased demands for transparency: what ...
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