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PENSION POLITICS Environmental organizers across the country are converging in Northern Minnesota in support of Indigenous Water Protectors, to stop the construction of the Line 3 pipeline expansion. Across the country, people are protesting, sending letters, and making calls to demand that President Biden shut down the construction of Line 3 just as he called for the shut down the Keystone XL pipeline in January. They are also demanding that banks, insurance companies and pensions divest from Enbridge, the pipeline owner. (Photo above: Protests march through downtown St. Paul, MN with a Stop Line 3 banner on January 29, 2021. (Photo: Tim Evans/NurPhoto via Getty Images) ....
CalSTRS Aims for New $2 Billion Sustainable Portfolio Pension plan officials believe they can build a new private markets allocation without sacrificing investment targets. The California State Teachers’ Retirement System (CalSTRS) plans to build a private markets sustainable investment portfolio to go greener while aiming to maintain its investment returns. The investment committee of the $282.5 billion pension system, the largest teachers’ retirement fund in the world, is expected to approve the new portfolio at its meetings next week. The pension system’s plan calls for investments of $1 billion to $2 billion in the next couple of years much of it in real estate affordable housing investments, as well as in private equity and infrastructure according to CalSTRS investment committee material. ....
Samohi students get teachers’ union to pass fossil fuel divestment resolution Dec. 12, 2020 at 6:00 am File photo The California State Teachers’ Retirement System has $6 billion worth of investments in fossil fuels and Samohi’s Team Marine wants every dollar divested. After making a compelling presentation to the Santa Monica-Malibu Classroom Teachers Association, the student environmental group succeeded in getting their divestment resolution passed with a unanimous vote. SMMCTA now joins a coalition of 10 other teachers’ unions demanding CalSTRS divest in a movement organized by environmental organization Fossil Free California. The students are proud to contribute a small yet significant step towards achieving divestment and they don’t plan on stopping here. ....