LACERA’s Board of Investments oversees all aspects of the fund’s investment program in fulfilment of LACERA’s mission “to produce, protect, and provide the promised benefits” for LACERA members. The Board of Investments has established a Corporate Governance Committee, which meets several times a year and is charged with oversight of the fund’s corporate governance and broader ESG-related activities and initiatives, including approval of LACERA’s Corporate Governance Principles.
LACERA’s chief executive officer, chief investment officer, chief counsel, and other designated staff develop, guide, and execute LACERA’s investment programming, including responsible investment matters, under the oversight of the Board of Investments. The chief investment officer and a senior investment officer designated to oversee all corporate governance and ESG matters report to the Corporate Governance Committee of the Board several times per year.
LACERA’s Investments Division is charged with fulfilling LACERA’s investments program, in collaboration with the fund’s Legal and Accounting Divisions. LACERA has dedicated a senior investment professional to guide the fund’s corporate governance and ESG efforts. The designated position is integrated into a fund-wide team dedicated to portfolio analytics and other total fund matters. An additional investment officer was added during the reporting period to LACERA’s corporate governance and ESG efforts. Senior professionals of the Investments Division meet every week to coordinate all investment activities, including ESG integration. Weekly senior meetings include the chief investment officer, the heads of each asset class, portfolio analytics and performance reporting heads, senior legal counsel, and the senior investment officer charged with corporate governance.
Investments staff carry out planning, execution, and reporting on corporate governance and ESG activities, with regular reporting, consultation, and approvals by the Board of Investments and its Corporate Governance Committee. Investments staff actively engages fund legal counsel on all legal matters and program development, such as interpretation and application of applicable laws and regulations. Fund communications staff coordinates member and public communications regarding LACERA’s investment program, inclusive of corporate governance initiatives, such as designated investment- and corporate governance-related information on the www.lacera.com website and member newsletters.