Chief Executive Officer Cassandra Lichnock highlighted the 2022–23 Sustainability Report as part of her March 2024 CEO Report to the Teachers' Retirement Board.

The Sustainability Report is an annual snapshot of CalSTRS’ organizational resiliency, and this edition focused on broad sustainability topics such as member retirement education; progress of the CalSTRS Funding Plan; privacy and information security; the path to net zero; sustainable operations; workforce management and employee wellness; and diversity, equity and inclusion.

Sustainability refers to every CalSTRS effort, policy and action that protects the Teachers’ Retirement Fund across decades. The report identifies CalSTRS’ approach and results of key issues to create long-term stability for a well-governed, financially sound trust fund.

This is the 10th year CalSTRS has issued this voluntary report. It follows the Global Reporting Initiative Standards, which are recognized as a global best practice for impactful reporting.

Report highlights:

Member retirement education

California’s public educators live longer than the average U.S. population, making it essential they have enough savings to last through retirement. With that in mind, CalSTRS makes a point to engage with members from early in their careers to promote better retirement security.

CalSTRS Funding Plan progress

CalSTRS remains slightly ahead of schedule to reach full funding for the Defined Benefit Program by 2046. Full funding ensures long-term viability of the fund and will enable CalSTRS to meet its obligation of securing the retirements of California’s public educators.

Path to net zero

The commitment to achieve net zero greenhouse gas emissions in the CalSTRS Investment Portfolio by 2050 or sooner builds on nearly two decades of influencing global sustainable business practices and public policies. At CalSTRS, net zero means that the amount of greenhouse gases emitted by companies in the CalSTRS Investment Portfolio is offset by the amount taken away.

Diversity, equity and inclusion

CalSTRS participates in diversity, equity and inclusion efforts internally and across the investment management industry. Internal efforts include thorough and thoughtful succession planning and offering staff development for employees to thrive. The CalSTRS Investments team also promotes diversity on the corporate boards of companies in which it invests.