CalSTRS Adds Public Health Criteria to IPS
September 5, 2008 (PLANSPONSOR.com) - The California
State Teachers' Retirement System (CalSTRS) has added a new
plank to its investment policy calling for a consideration of
public health issues when deciding on future investment
moves.
CalSTRS' Investment Committee unanimously approved
the addition of the public health criterion on the motion
of State Treasurer Bill Lockyer.
A Lockyer news release said the component was added
to CalSTRS' Environment, Social and Governance Policy
(ESG), which measurers risk and governs decisions related
to CalSTRS investments.
"Big Tobacco is one example of an industry that has
historically shown a complete disregard of public health,
both here and abroad. They've marketed to children and
increased our health care costs. There should be no
consideration of reinvesting of tobacco," Lockyer
asserted in the news release. "As we continue to debate
changes to our policy, we shouldn't forget the teachers
we represent. What kind of message would we send to them
and their students if CalSTRS reinvested in tobacco while
its members attempt to teach our children healthy
habits?"
Lockyer blasted a proposal by CalSTRS in June to jump
back into tobacco stocks (See
CalSTRS Ponders Return to Tobacco Firm
Holdings
).
Fred Schneyer
editors@plansponsor.com