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California State Teachers' Retirement System CalSTRS

PRI reporting framework 2018

Basic information [OO 01 - 09] Asset class implementation gateway indicators [OO 10 - 12] Peering questions [OO LE 01 - INF 03]

Strategy and Governance

Investment policy [SG 01 - 04] Objectives and strategies [SG 05 - 06] Governance and human resources [SG 07 - 08] Promoting responsible investment [SG 09 - 11] Outsourcing to fiduciary managers and investment consultants [SG 12] ESG issues in asset allocation [SG 13 - 15] Asset class implementation not reported in other modules [SG 16 - 17] Innovation [SG 18] Communication [SG 19]

Indirect – Manager Selection, Appointment and Monitoring

Listed Equity and Fixed Income Strategies [SAM 01] Selection [SAM 02 - 03] Appointment [SAM 04] Monitoring [SAM 05 - 07]

Direct - Listed Equity Incorporation

ESG incorporation in passively managed listed equities [LEI 11] Outputs and outcomes [LEI 12 - 14]

Direct - Listed Equity Active Ownership

Engagement [LEA 01 - 14] Overview [LEA 01 - 02] Process [LEA 03 - 10] Process for engagements run internally [LEA 03 - 04] Process for engagements conducted via collaborations [LEA 05 - 06] General processes for all three groups of engagers [LEA 09 - 10] Outputs and outcomes [LEA 11 - 14] (Proxy) voting and shareholder resolutions [LEA 15 - 24] Overview [LEA 15] Process [LEA 16 - 20] Outputs and outcomes [LEA 21 - 24]

Assurance

Assurance [CM1 01.1 - 01.7]

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Outputs and outcomes

SAM 08. Percentage of externally managed assets managed by PRI signatories

08.1. Describe how you ensure that best RI practice is applied to managing your assets

Encourage improved RI practices with existing investment managers

Measures

          Track some related metrics and communicate back to investment managers. Examples are listed:
https://www.calstrs.com/sites/main/files/file-attachments/green_report_2017.pdf

Move assets over to investment managers with better RI practices

Other, specify

None of the above

08.2. Additional information. [Optional]

SAM 09. Examples of ESG issues in selection, appointment and monitoring processes

09.1. Provide examples of how ESG issues have been addressed in the manager selection, appointment and/or monitoring process for your organisation during the reporting year.

Add Example 1

Topic or issue

          ESG assessment and policy

Conducted by

Asset class

Scope and process

External managers are expected to consider CalSTRS 21 ESG risk factors when making investment decisions on behalf of the fund. External managers are engaged on these risks during periodic due diligence meetings. External managers provide annual confirmation concerning their consideration of the 21 ESG risk factors. Internal staff assess external managers ESG policies and beliefs, and assess external investments during ongoing due diligence and during LP/GP investment advisory meetings.

Outcomes

http://www.calstrs.com/sites/main/files/file-attachments/esg_policy_and_21_risk_factors.pdf

CalSTRS 21 Risk Factor and ESG policy walks through additional parts of the process and potential outcomes

https://www.calstrs.com/sites/main/files/file-attachments/green_report_2017.pdf

https://www.calstrs.com/report/corporate-governance-annual-report

CalSTRS Corporate Governance and Green Team reports highlight examples.

Add Example 2

Add Example 3

Add Example 4

Add Example 5

We are not able to provide examples

09.2. Additional information.

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