CalSTRS Receives Inaugural Global Stewardship Award
Award recognizes excellence and innovation in investor stewardship
WEST SACRAMENTO, Calif. (December 17, 2018) – The California State Teachers’ Retirement System has received the International Corporate Governance Network’s (ICGN) inaugural Global Stewardship Disclosure Award for Asset Owners. ICGN introduced the award to celebrate the individuals and organizations that excel in stewardship practices and disclosures.
The award, presented on Tuesday, December 4, recognizes CalSTRS’ work and advocacy in advancing the evidence-based link between stewardship and the creation of sustainable and responsible value that benefits companies, investors and society as a whole.
“CalSTRS’ decade-long involvement in ICGN has given us opportunities to maintain a leadership position in international governance.”
Christopher J. Ailman
CalSTRS Chief Investment Officer
“CalSTRS’ decade-long involvement in ICGN has given us opportunities to maintain a leadership position in international governance,” said CalSTRS Chief Investment Officer Christopher J. Ailman. “Receiving this award is a testament to the global footprint our team has planted in advancing disclosure practices. A special thanks to Corporate Governance Portfolio Managers Aeisha Mastagni and Brian Rice, who did the work that made this award possible.”
The award also acknowledges the work of the CalSTRS Corporate Governance team as a founding member of the Investor Stewardship Group (ISG). The ISG launched its Framework for U.S. Stewardship and Governance in January 2017. The Framework, which took effect in January 2018, is comprised of two sets of principles: Stewardship for Institutional Investors and Corporate Governance for U.S. Listed Companies. ICGN has recognized the Framework’s value by including it as a resource on their website.
The California State Teachers’ Retirement System, with a portfolio valued at $219.4 billion as of November 30, 2018, is the largest educator-only pension fund in the world. CalSTRS serves California’s more than 933,000 public school educators and their families from the state’s 1,700 school districts, county offices of education and community college districts. A hybrid retirement system, CalSTRS administers a combined traditional defined benefit, cash balance and voluntary defined contribution plan. CalSTRS also provides disability and survivor benefits. CalSTRS members retire on average after more than 25 years of service, with a median retirement age of 62.9, and a monthly pension of approximately $4,475, which is not eligible for Social Security participation. For more data, download the CalSTRS Fast Facts 2017 brochure.
See how CalSTRS demonstrates its strong commitment to long-term corporate sustainability principles in its annual Global Reporting Initiative sustainability report: Global Stewardship at Work.
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