The board of the $318.4 billion California State Teachers’ Retirement System has pledged to pursue a net-zero greenhouse gas emissions goal in its $310.9 billion investment portfolio by 2050 or earlier, according to a recent meeting document. Earlier this month, CalSTRS unveiled a framework for a net-zero investment portfolio.
CalSTRS said this move is in line with the 2015 Paris Climate Agreement.
The next step will be for the pension fund to develop a net-zero action plan that will establish a baseline and milestones for managing emissions-related risks. The board will then take actions for the next year that ensure clear internal governance structures, methodologies and frameworks supporting net-zero commitments, emissions measurement and interim goals.