CalSTRS trustee Sharon Hendricks elected to PRI board
Principles of Responsible Investment is the world’s leading proponent of responsible investment
WEST SACRAMENTO, Calif. (April 15, 2019) – California State Teachers’ Retirement System announced that trustee Sharon Hendricks was elected to the PRI Association Board. As an independent organization, PRI encourages investors to use responsible investment to enhance returns and better manage risks.
“In my role as a trustee on the Teachers’ Retirement Board, over the past eight years, I have supported, encouraged and witnessed the benefits of incorporating the six Principles for Responsible Investment into CalSTRS investment policies and practices,” said Board Vice Chair Sharon Hendricks.
“I’m excited to begin working with the PRI board to promote—on a global scale—the integration of environmental, social and governance issues into the management of investment portfolios,” Ms. Hendricks said. “I firmly believe the PRI has the potential to make a positive impact on the financial and economic health of society.”
“I’m excited to begin working with the PRI board to promote the integration of ESG issues into the management of investment portfolios.”
Teachers’ Retirement Board Vice Chair
Ms. Hendricks’ term begins immediately and continues through 2021. She is one of seven directors elected by asset owner signatories. The board also includes one independent Chair (confirmed by a signatory vote); two directors elected by investment manager signatories; and one director elected by service provider signatories. Additional governance of PRI includes two permanent UN advisers to the board, representatives from the PRI’s founding UN partners: UN Global Compact and UNEP Finance Initiative.
The California State Teachers’ Retirement System, with a portfolio valued at $227.8 billion as of March 31, 2019, is the largest educator-only pension fund in the world. CalSTRS serves California’s more than 949,000 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 2018 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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