CTPF outlines fossil fuel divestment plan

The Chicago Public School Teachers' Pension & Retirement Fund (CTPF) has adopted a new resolution regarding its fossil-fuel investments, targeting divestment by 2027.

This process started with the board voting to formalize CTPF’s commitment to have Callan and staff study the divestiture of fossil fuels. In January, Callan began conducting education sessions introducing Callan’s ESG approach, defining what ESG encompasses and outlining the various levels of investor implementation. At the second education session held in March, Callan discussed the role of stewardship and proxy voting, climate-aware investing, the pros and cons of divestment, options for engagement and the current investment manager opportunity set. The board then drafted a set of investment beliefs, which were adopted at the April 21 board meeting. These Investment beliefs ensure the fund’s investment philosophy reflects its views and culture.

The board was then asked to consider a new resolu