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AUM in Action

CalSTRS Outlines Net Zero Progress

The California State Teachers’ Retirement System (CalSTRS) has provided an update on progress against its pledge to achieve net zero emissions in its investment portfolio by 2050 or sooner. CalSTRS’ net zero pledge is structured around three pillars: measuring and reducing portfolio emissions, increasing exposure to low-carbon investments that meet risk-return goals, and using influence to accelerate the integration of net zero considerations across global financial markets. The firm’s global equity portfolio has reduced its emissions by 9.4% over the past year, while fixed income witnessed an 11% drop. The US pension fund also operates a sustainable investment and stewardship strategies private portfolio, which has deployed more than US$2 billion in low-carbon solutions to date. CalSTRS flagged its continued engagement efforts – including with Climate Action 100+ – and its heightened focus on methane reduction. The pension fund has called on eligible portfolio companies to join the Oil and Gas Methane Partnership 2.0, a UN-led framework committed to the measurement, reporting and mitigation of methane emissions. Getting accurate and consistent data has been a priority for CalSTRS, and presents a persistent challenge for reaching net zero, it said.

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