CalSTRS in the News

CalSTRS in the news

Overview

Review recent news articles, reports and other published materials on CalSTRS programs and investments.

Article Financial Times, FTfmDecember 4, 2020

CalSTRS plans green shift after Joe Biden’s victory

The world’s largest public pension fund for teachers is planning to accelerate changes to its investment portfolio in a bid to become greener following the victory of Joe Biden in the US election.

Jack Ehnes, chief executive of the $254bn California State Teachers’ Retirement System, said CalSTRS would speed up the implementation of its green investment strategy after Donald Trump lost the poll.

Article The Wall Street Journal, DealsDecember 6, 2020

Exxon Under Pressure From New Activist Fund

Exxon Mobil Corp. is facing the threat of a proxy fight from a newcomer activist investor with a sustainability bent that wants the beleaguered energy giant to act faster to remake itself.

Engine No. 1 LLC, an investment firm launched by Chris James last week, is preparing to send a letter to Exxon ’s board urging the Irving, Texas-based company to focus more on investments in clean energy while cutting costs elsewhere to preserve its dividend. The letter, a copy of which was viewed by The Wall Street Journal, identifies four people the firm plans to nominate to Exxon’s 10-person board.

Article Reuters, Energy & EnvironmentDecember 11, 2020

Tiny activist investor’s arguments against Exxon draw crowd to its side

Exxon Mobil Corp, a giant of the energy world and once the world’s most valuable company, is being pressured by a small investment company whose campaign for spending cuts and management change has been gathering more supporters.

Exxon has fended off past challenges seeking big change to its policies and leadership. But faltering returns – its shares are off 40% in the last five years and losses through September have reached $2.37 billion – could swing more holders behind the activist, say investors and analysts.

Article Accelerate Investors, CIO Conversations with Betty SalanicDecember 15, 2020

Chris Ailman, CIO, California State Teachers’ Retirement System (Part 2)

Chris Ailman, chief investment officer of California State Teachers’ Retirement System (CalSTRS), a $230 billion pension fund, which has a 72% female membership, shares his thoughts on the role the government should play in supporting individuals vs. equity markets during our current economic crisis. He also discusses his thoughts on active management in the era of COVID-19 and he describes the leadership role that CalSTRS has played and continues to play in furthering ESG Principles.