CalSTRS CEO Issues Statement on COP21 Climate Talks
WEST SACRAMENTO, Calif. – CalSTRS Chief Executive Officer, Jack Ehnes issued the following statement on the draft release of the Paris Agreement under the United Nations Framework Convention on Climate Change as part of the Conference of the Parties in Paris, France:
“As a public draft of the agreement is being circulated, it is clear the implications of what is taking place have a long-term goal of balancing emissions with what nature can tolerate. It is important that we take this policy view in order for institutional investors like CalSTRS to have the confidence to deploy appropriate capital to the market. This proposed agreement ensures that sound, lasting decisions in relation to carbon asset risk, can be made. It also signals to the global economy that governments are setting necessary long-term goals that provide investors the framework to act accordingly.”
The California State Teachers’ Retirement System, with a portfolio valued at $188.03 billion as of October 31, 2015, is the largest educator-only pension fund in the world. CalSTRS administers a hybrid retirement system, consisting of traditional defined benefit, cash balance and voluntary defined contribution plans. CalSTRS also provides disability and survivor benefits. CalSTRS serves California’s 879,000 public school educators and their families from the state’s 1,700 school districts, county offices of education and community college districts.