CalSTRS, the $346.5bn public pension fund has awarded a $150m equity mandate to Ninety One’s Global Environment strategy, in a bid to put its climate pledges into action.
The $4.2bn Global Environment Strategy is a high conviction, global equity portfolio investing in identifying businesses whose structural growth is driven by decarbonization across renewable energy, resource efficiency and electrification.
It is managed by Deirdre Cooper, head of Sustainable Equity, and Graeme Baker, co-portfolio manager.
Just last month, CALSTRS has awarded a $450 equity mandate to Nordea’s Sustainability-focused global equity mandate.
CalSTRS has put aside 3% of its overall portfolio to a Investment and Stewardship Strategies (SISS) segment which invests in the energy transition. CalSTRS plans to grow its SISS allocation to up to 5%.
Kirsty Jenkinson, investment director at CalSTRS commented: “Our mission is simple, to secure the financial future and sustain the trust of California’s educators. We believe that Ninety One’s Global Environment strategy aligns with our commitment to deliver financial performance while simultaneously creating positive sustainability outcomes.”
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