Corporate governance means being good stewards of our beneficiaries’ capital-protecting and growing our investments.
In addition to engaging companies, we comment on regulatory policy and legislation.
We advocate for rules and regulations promoting good governance and improving transparency and safety of the market.
We advocate for state, federal and global standards by working closely with regulatory and advisory industry bodies on updates in the governance arena to improve disclosures and raise governance standards.
We also work to oppose regulation and legislation that would weaken our rights as shareholders.
Regulatory
| Date |
Addressed to |
Subject (Click to download) |
| August 24, 2026 |
Raymond Windmiller, Executive Officer, U.S. Equal Employment Opportunity Commission |
[Comments on Proposed Removal of Reporting Requirements](https://www.calstrs.com/files/6ec06a26f/CommentLetter-EEOCRescindEEOReports2026.pdf) |
| August 3, 2026 |
Vanessa A. Countryman, Secretary, Securities and Exchange Commission |
[Comments on Proposed Rescission of the Enhancement and Standardization of Climate-Related Disclosures for Investors](https://www.calstrs.com/files/93c43227f/CommentLetter-SECClimateDisclosureRuleRecision2026.pdf) |
| July 19, 2026 |
Vanessa A. Countryman, Secretary, Securities and Exchange Commission |
[Comments on Proposed Rule: Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies](https://www.calstrs.com/files/7ab615778/CommentLetter-SECFilerStatusConsolidation.pdf) |
| July 6, 2026 |
Paul Atkins, Chairman, Securities and Exchange Commission |
[Comments on Proposed Rule: Semiannual Reporting](https://www.calstrs.com/files/e2a3a6cd7/CommentLetter-ReportingPeriodJuly2026.pdf) |
| May 15, 2026 |
James Logothetis, Chairman, Public Company Accounting Oversight Board |
[Comments on PCAOB Strategic Priorities](https://www.calstrs.com/files/1afb73b54/CommentLetter-PCAOBStrategicPriorities.pdf) |
| April 13, 2026 |
Vanessa A. Countryman, Secretary, Securities and Exchange Commission |
[Comment on Reforming Regulation S-K](https://www.calstrs.com/files/0a1c2440f/CommentLetter-ReformingRegulationS-K.pdf) |
Standard setting bodies
| Date |
Addressed to |
Subject (Click to download) |
| March 30, 2026 |
South Korea Financial Services Commission |
[Support of ISSB S1 and S2 Disclosure Standards](https://www.calstrs.com/files/955a1fc54/SouthKoreaConsultationResponseMarch2026.pdf) |
| March 25, 2026 |
Accounting and Auditing Board of Ethiopia |
[Support of ISSB S1 and S2 Disclosure Standards](https://www.calstrs.com/files/a5bc90afe/EthiopiaConsultationResponseMarch2026.pdf) |
| March 20, 2026 |
Indonesian Otoritas Jasa Keuangan (OJK) (Financial Services Authority) |
[Support of ISSB S1 and S2 Disclosure Standards](https://www.calstrs.com/files/86c06faae/IndonesiaConsultationResponseMarch2026.pdf) |
| March 20, 2026 |
United Kingdom Primary Markets Policy |
[Support of ISSB S1 and S2 Disclosure Standards](https://www.calstrs.com/files/f1c6bd8ca/UKConsultationResponseMarch2026.pdf) |
| March 20, 2026 |
Zimbabwe Public Accountants and Auditing Board |
[Support of ISSB S1 and S2 Disclosure Standards](https://www.calstrs.com/files/eba2e82e5/ZimbabweConsultationResponseMarch2026.pdf) |
Regulatory
| Date |
Addressed to |
Subject (Click to download) |
| September 22, 2025 |
Lee Zeldin, Administrator, U.S. Environmental Protection Agency |
[Comments on proposed rescission of the 2009 Endangerment Finding and associated greenhouse gas vehicle emission standards](https://www.calstrs.com/files/2dbb655de/EPACommentLetter.pdf) |
| June 13, 2025 |
Ursula Von Der Leyen, President, European Commission |
[CalSTRS Support for the EU Methane Regulation (EUMR) 2024/1787](https://www.calstrs.com/files/688c69220/CommentLetter-EuropeanUnionMethaneRegulations.pdf) |
| March 21, 2025 |
Liane Randolph, Chair, California Air Resources Board |
[Public Comments to California Climate-Disclosure Information Solicitation](https://www.calstrs.com/files/c843e5df9/CARBCommentLetterSB253And261Implementation.pdf) |
| March 19, 2025 |
The Institute of Certified Public Accountants of Rwanda (ICPAR) |
[Support of ISSB S1 and S2 Disclosure Standards](https://www.calstrs.com/files/e8c481336/RwandaConsultationResponse.pdf) |
| January 14, 2025 |
United States Department of Labor Occupational Safety and Health Administration |
[Protection for Workers Exposed to Extreme Heat](https://www.calstrs.com/files/407297271/OSHAWorkerExtremeHeat.pdf) |
Standard setting bodies
| Date |
Addressed to |
Subject (Click to download) |
| September 29, 2025 |
European Financial Reporting Advisory Group (EFRAG) |
[Comment on Revised ESRS Exposure Drafts of the European Sustainability Reporting Standards](https://www.calstrs.com/files/ffc2161cf/CommentLetter-ESRSExposureDrafts.pdf) |
| September 17, 2025 |
United Kingdom Department for Business & Trade |
[Support of ISSB S1 and S2 Disclosure Standards](https://www.calstrs.com/files/a7c164b65/UKConsultationResponseSeptember2025.pdf) |
| March 25, 2025 |
Qatar Financial Centre Regulatory Authority |
[Support of ISSB S1 and S2 Disclosure Standards](https://www.calstrs.com/files/1a9228ff0/QatarConsultationResponseMarch2025.pdf) |
Standard setting bodies
| Date |
Addressed to |
Subject (Click to download) |
| August 21, 2024 |
Korea Sustainability Standards Board |
[Consultation on Sustainability Standards](https://www.calstrs.com/files/2ac2f6687/KoreaSSBConsultationResponse.pdf) |
| July 31, 2024 |
Sustainability Standards Board of Japan |
[Consultation on Sustainability Standards](https://www.calstrs.com/files/b8d0b9a44/SSBJapanConsultationResponse.pdf) |
| June 24, 2024 |
Ministry of Finance of China |
[Consultation on Sustainability Standards](https://www.calstrs.com/files/33d0ef641/ChinaConsultationSustainability.pdf) |
Regulatory
| Date |
Addressed to |
Subject (Click to download) |
| October 2, 2023 |
U.S. Environmental Protection Agency |
[Comments on Proposed Greenhouse Gas Reporting Rule: Revisions and Confidentiality Determinations for Petroleum and Natural Gas Systems](https://www.calstrs.com/files/75e0c8ff9/ProposedGreenhouseGasReportingRule.pdf) |
| August 22, 2023 |
Public Company Accounting Oversight Board (PCAOB) |
[Public Input on Auditing Standards for Company Noncompliance with Laws and Regulations](https://assets.pcaobus.org/pcaob-dev/docs/default-source/rulemaking/docket-051/137_calstrs.pdf?sfvrsn=79f6140c_4) |
| August 4, 2023 |
U.S. Department of Transportation, Pipeline and Hazardous Materials Safety Administration (PHMSA) |
[Public Input on Auditing Standards for Company Noncompliance with Laws and Regulations](https://assets.pcaobus.org/pcaob-dev/docs/default-source/rulemaking/docket-051/137_calstrs.pdf?sfvrsn=79f6140c_4) |
| April 19, 2023 |
Federal Trade Commission |
[Comment on the Proposed Non-Complete Clause Rulemaking](https://www.calstrs.com/files/6e5cb41de/RequestForCommentOnProposedNon-CompeteClauseRulemaking.pdf) |
| February 14, 2023 |
Public Company Accounting Oversight Board (PCAOB) |
[Public Input on Proposed Rule Governing An Audit Firm's System of Quality Control](https://www.calstrs.com/files/b54baed6d/PCAOBRulemakingDocketMatterNo046-CommentLetter.pdf) |
| February 3, 2023 |
Administrator Michael S. Regan (U.S. EPA) |
[Standards of Performance for New, Reconstructed, and Modified Sources and Emissions Guidelines for Existing Sources: Oil and Natural Gas Sector Climate Review](https://www.regulations.gov/comment/EPA-HQ-OAR-2021-0317-2152) |
Standard setting bodies
| Date |
Addressed to |
Subject (Click to download) |
| September 1, 2023 |
Emmanuel Faber, Chair, International Sustainability Standards Board (ISSB) |
[Consultation on Agenda Priorities for 2-Year Work Plan](https://ifrs-springapps-comment-letter-api-1.azuremicroservices.io/v2/download-file?path=624_67467_California-State-Teachers-Retirement-System-CalSTRS-_0_Agenda-Priorities-California-State-Teachers-Retirement-System-CalSTRS-R-n-oDfGGrKZlbZx.pdf) |
Regulatory
| Date |
Addressed to |
Subject (Click to download) |
| June 17, 2022 |
Vanessa A. Countryman, Secretary |
[The Enhancement and Standardization of Climate-Related Disclosures for Investors](https://www.calstrs.com/files/1a625d9da/SECCommentLetterOnClimateDisclosureRule.pdf) |
| March 2, 2022 |
Vanessa A. Countryman, Secretary |
[Pay for performance](https://www.calstrs.com/files/6d0017061/PayForPerformance-March2022.pdf) |
Standard setting bodies
| Date |
Addressed to |
Subject (Click to download) |
| July 29, 2022 |
Emmanuel Faber, Chair, International Sustainability Standards Board (ISSB) |
[Exposure Drafts on General Requirements for Disclosure of Sustainability-related Financial Disclosures and Climate-related Disclosures](https://www.calstrs.com/files/42402af56/ISSBCommentLetteronClimateRelatedDisclosures.pdf) |
Legislative
| Date |
Addressed to |
Subject (Click to download) |
| October 5, 2021 |
Rep. Maxine Waters and Rep. Patrick T. McHenry |
[Support for Draft Bill that would improve governance of multi-class stock companies and require annual diversity disclosures](https://www.calstrs.com/files/4609fa6e1/commentletterondual-classsharesanddiversity.pdf) |
Regulatory
| Date |
Addressed to |
Subject (Click to download) |
| September 8, 2021 |
Bureau of Alcohol, Tobacco, Firearms, and Explosives |
[Criteria for Firearms with Attached Stabilizing Braces](https://www.regulations.gov/comment/ATF-2021-0002-206640) |
| August 18, 2021 |
Bureau of Alcohol, Tobacco, Firearms, and Explosives |
[New Definition of Firearm Frame or Receiver](https://www.regulations.gov/comment/ATF-2021-0001-220486) |
| July 12, 2021 |
Public Company Accounting Oversight Board (PCAOB) |
[Public Input on Proposed Rule Governing Board Determinations Under the Holding Foreign Companies Accountable Act](https://www.calstrs.com/files/e02c9674f/holdingforeigncompaniesaccountableactinput.pdf) |
| June 4, 2021 |
Gary Gensler, Chair |
[Public Input on Climate Change Disclosures](https://www.calstrs.com/files/023f94553/secletteronclimatechangedisclosure.pdf) |
Standard setting bodies
| Date |
Addressed to |
Subject (Click to download) |
| September 3, 2021 |
CFA Institute |
[Support for CFA Institute Diversity, Equity, & Inclusion Code for the Investment Profession in United States and Canada (2021)](https://www.calstrs.com/files/d3baddabc/cfa-draftcodeinvestmentprofession.pdf) |
| July 29, 2021 |
Erkki Liikanen, Chair, International Financial Reporting Standards (IFRS) Foundation |
[Constitutional Amendments to Establish an International Sustainability Standards Board (ISSB)](https://www.calstrs.com/files/9813ded94/constitutionalchangesforissb.pdf) |
Regulatory
| Date |
Addressed to |
Subject (Click to download) |
| December 23, 2020 |
Vanessa A. Countryman, Secretary |
[Adopt Nasdaq Stock Exchange Board Diversity Listing Standards](https://www.calstrs.com/files/2277b8892/calstrs2020nasdaqdiversityrule.pdf) |
| October 5, 2020 |
Employee Benefits Security Administration |
[Fiduciary Duties Regarding Proxy Voting and Shareholder Rights](https://www.calstrs.com/files/64c6b2296/fiduciarydutiesregardingproxyvoting.pdf) |
| September 28, 2020 |
The Financial Conduct Authority |
[UK Proposals to Enhance Climate-related Disclosures](https://www.calstrs.com/files/edad0faee/fcaproposalsonclimatedisclosure.pdf) |
| September 5, 2020 |
Ontario Capital Markets Modernization Task Force |
[Sign-On Letter - Improving Issuers' ESG Performance & the Regulatory Structures](https://www.calstrs.com/files/e3574f29e/usinvestorlettertomodernizationtaskforce.pdf) |
| August 21, 2020 |
Chairman Clayton and Secretary Countryman |
[Modernization of Regulation S-K Items 101, 103 and 105 - Follow-Up Letter](https://www.calstrs.com/files/2bfce4fd2/supplementtoregulations-k-101c.pdf) |
| July 30, 2020 |
U.S. Department of Labor, Jeanne Klinefelter Wilson, Assistant Secretary |
[DOL Amendments to How Retirement Plans Use ESG Funds](https://www.calstrs.com/files/6727bd730/amendmentstohowretirementplansusefunds.pdf) |
| July 21, 2020 |
Federal Reserve System, Honorable Jerome H. “Jay” Powell, Chairman, Board of Governors |
[Sign-on Letter Regarding Financial Regulators for Action on Climate Risk](https://www.calstrs.com/files/19976bbce/federalregulatorssignonletter.pdf) |
| February 3, 2020 |
Securities and Exchange Commission – Vanessa A Countryman, Secretary |
[Proposed Rules on Proxy Advisors and Shareholder Proposal Submission Thresholds](https://www.calstrs.com/files/59b616840/2020-02-03-proxyvotingadviceandresubmissionthresholds.pdf) |
Standard setting bodies
| Date |
Addressed to |
Subject (Click to download) |
| December 22, 2020 |
Erkki Liikanen, Chair International Financial Reporting Standards (IFRS) Foundation |
[Sustainability Reporting – Establishing a Sustainability Standards Board](https://www.calstrs.com/files/261373aa8/establishingsustainabilitystandardsboard.pdf) |
| September 1, 2020 |
European Supervisory Authorities (ESA) |
[European Supervisory Authorities Joint Consultation on ESG Disclosures](https://www.calstrs.com/files/fb4625d96/jointesaconsultationonesgdisclosures.pdf) |
