CalSTRS prioritizes diversity, climate change in new strategy
People - MARCH 31, 2022

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CalSTRS prioritizes diversity, climate change in new strategy

by Kali Persall

The California State Teachers’ Retirement System (CalSTRS) is implementing a new engagement strategy for the 2022 proxy season, focused on opposing the election of directors in companies that have failed to achieve greater board diversity or significantly address climate change.

CalSTRS will execute its votes against the entire board of directors of companies that do not have at least one woman on the board; against directors on a board’s nominating committee if the company does not have at least 30 percent women board members; and against nominating and governance committee members of companies in the Russell 1000 Index that do not disclose the skills and diversity characteristics of their board members.

CalSTRS also will directly support shareholder proposals that promote further progress in reaching global net-zero goals. The pension fund has committed to net-zero emissions in its investment portfolio by 2050 or sooner. CalSTRS said it will vote in favor of shar

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