Latest news with #CalSTRS
Yahoo
08-05-2025
- Politics
- Yahoo
Teachers group calls on CalSTRS to ‘divest from genocide' in Gaza
Good morning and welcome to the A.M. Alert! CALIFORNIA SCHOOL TEACHERS CALL FOR CALSTRS DIVESTMENT Teachers from across the state rallied outside the CalSTRS Headquarters in West Sacramento Wednesday morning to demand that the public educator pension fund divest from corporations that they say are enabling tens of thousands of deaths in Gaza. The rally was organized by a group called CalSTRS Divest, which identifies itself as 'a grassroots, educator-led campaign in California.' 'As educators, we are committed to ensuring that our actions and investments reflect our values,' the group states on its website. 'We urgently demand that CalSTRS divest from companies that support the Israeli military and contribute to the ongoing occupation and human rights violations in Palestine.' The group specifically cited CalSTRS investing in such corporations as Palantir Technologies, Elbit Systems, Caterpillar, Lockheed Martin, Boeing and Maersk as contributing to the death of more than 50,000 Palestinian people. As of April 20, the Palestinian Ministry of Health in Gaza estimated that 51,305 people, including 17,400 children, had been killed in the conflict, which started after the Hamas-led attack on Israel in Oct. 2023 that killed almost 1,200 Israelis. Other outlets have estimated the death toll in Gaza to be more than 60,000. 'Over $1.1 billion in assets are identified as specifically tied to Israel's illegal siege and occupation of Palestinian land,' CalSTRS Divest said in a statement Wednesday. CalSTRS is the second-largest pension fund in the country, and currently holds about $349.5 billion in assets. Teachers rallied outside pension headquarters before delivering public comments during a board and investment committee meeting Wednesday morning. One Bay Area teacher, who identified herself only by her first name, Christina, said she was the only Palestinian teacher in her 800-person union. 'I am grateful to have retirement funds, so thank you for that,' she told the 12-person Teachers' Retirement Board, wearing a keffiyeh and holding a small sign that read, 'CalSTRS Divest from Genocide.' 'But I am distraught that my contributions go to companies enabling the Gaza genocide (and) the illegal occupation of the West Bank ... as a Palestinian-American, I hate that my taxes and my pension funds both sustain the companies that build the bombs that have killed over 60,000 civilians, likely much more than that, destroyed every single school, and every single university, in Gaza, and killed 18,0000 Palestinian children.' Sara Smith-Silverman, an American River College history professor, and member of Jewish Voice for Peace Sacramento, also vocalized support for divesting from the companies. 'As a Jew, I believe that every life is an entire world, and we have a duty to protect every single human life,' Smith-Silverman told the board. 'When I look at my child, I think about Palestinian children who don't know if they will survive the night, or know where their next meal is coming from. And as a teacher, I grieve for Gaza's destroyed universities and students who had the same dreams as my students: to learn and build a better life.' After the rally, Christina told The Bee that she was grateful for the board's engagement and the 'quite warm and friendly' reception at the meeting. 'Our goal was not to be disruptive in any way; we don't feel we are adversaries with the board,' Christina said. 'They are the stewards of our pensions ... it's more like we're seeking partnership with them.' HOW CALIFORNIA VOTERS SEE TRUMP ON THE ISSUES... Via David Lightman Most California voters see President Donald Trump's administration policies on several fronts — education, environment, business and more — as hurting the state, according to a new UC Berkeley Institute of Governmental Studies poll. 'The results suggest that a majority of California's voters fear that the state will bear the financial and social brunt of Trump's policy decisions,' said G. Cristina Mora, Institute of Governmental Studies co-director. State voters, she said, 'fear the effects on everything from the state's regional economies to its K-12 schooling.' Big majorities also suggested they 'want the state to continue to support some of its most vulnerable communities, especially undocumented children, as they make policy decisions in this new era.' The poll, conducted April 21 to 28, found that about two-thirds of the 6,201 registered voters surveyed thought Trump's proposed tariffs will 'negatively affect California business and agriculture.' Fifty-six percent were concerned about the policies' impact on Medicaid, called Medi-Cal in California. The Republican-led House is considering big cuts to the program, which helps lower-income and disabled people with medical costs. Fifteen million Californians rely on the program. Other findings: 55% said Trump policies would hurt California's bid to reduce greenhouse gas emissions. 55% said the administration's policies would 'negatively impact' the state's undocumented immigrants. 54% were concerned about the impact on the state's public schools. 53% were concerned about the impact on the state's public higher education system. In the 2024 election, Kamala Harris received about 58.5% of the vote in California to about 38.3% for Trump. ...AND HOW THEY SEE NEWSOM Via Lia Russell A majority of California voters said Gov. Gavin Newsom is doing more to boost his presidential aspirations than to lead the state, according to the same UC Berkeley IGS poll. Some 54% said Newsom is focused on 'doing things that might benefit him as a possible candidate for president,' while 26% said they believed he was focused on 'governing the state and helping to solve its problems,' a more than 2:1 ratio. The poll also found that voters continued to be split, mostly along party lines, on the governor's performance. An equal number (46%) approved and disapproved of him, which widened when it came to how Democrats (70% approve) and Republicans (86% disapprove) viewed him. Despite remaining tight-lipped on the topic, Newsom is widely believed to be considering a run for higher office in 2028 after he leaves the governor's mansion in 2026. He has most recently made headlines for starting a controversial podcast and giving interviews to national outlets about how the Democratic Party needs to rehabilitate its 'toxic brand' after its bruising loss in the 2024 election. QUOTE OF THE DAY 'I firmly believe that we are on the edge of fascism … They're coming after free speech, the press, coming after education institutions. Those who don't agree with them will face persecution.' -- Senate President pro Tempore Mike McGuire speaking at the UC Student and Policy Center as part of its California Leader Speaker Series Best of The Bee: Gavin Newsom says his latest lawsuit against Trump would 'help Elon.' Here's why, via Nicole Nixon Amid climate change and Trump, CA lawmakers want better labor law enforcement, via William Melhado The Fed held the line on interest rates. What does that mean for Californians? via David Lightman The Sacramento political drama over sex trafficking punishments explained, via Robin Epley, Marcos Breton and Tom Philp
San Francisco Chronicle
23-04-2025
- Business
- San Francisco Chronicle
Letters: Why do state retirement systems still own 9 million shares of Tesla stock?
The California Public Employees' Retirement System and the California State Teachers' Retirement System together own about 9 million shares of Tesla stock. CalPERS' is the largest public pension fund in the country, and CalSTRS is the largest educator-only pension fund in the world. As of Dec. 31, CalPERS owned 4.8 million shares and CalSTRS owned 4.5 million. It is outrageous that they continue to hold Tesla stock after Elon Musk revealed his contempt for career civil servants and educators. And Tesla stock is too volatile for these pension portfolios. These retirement systems are in a position to do something meaningful and effective, which is to sell their Tesla shares. They have owned these stocks for years, so they would realize a gain if they sold soon. Contact the CalPERS' and CalSTRS' boards, their CEOs, your Assembly member and state senator, demanding divestment from Tesla. Mary Jo Walker, San Rafael Pope set open tone The death of Pope Francis is a profound loss for LGBTQ+ Christians around the world. While the Catholic Church's relationship with queer people has long been fraught, Francis cracked open the door to something previously unthinkable: mercy. Francis asked, 'Who am I to judge?' — a question that echoed through pews and Pride parades alike. He chose accompaniment over condemnation, recognizing that LGBTQ+ people are not issues to be debated, but human beings to be embraced. Francis did not rewrite doctrine, but he reshaped the tone. He met with same-sex couples, blessed LGBTQ+ Catholics and spoke against laws criminalizing homosexuality. In doing so, he offered something radical in a time of moral panic and rising anti-LGBTQ+ hate: the idea that faith and queerness need not be in conflict. For those of us who have sat in church pews wondering if we are loved by God, Pope Francis offered a glimpse of a gentler gospel. One where dignity is not earned but affirmed. May his memory be a blessing — and may his legacy challenge religious institutions to love more bravely. With all our contradictions and faith, we say thank you, Papa Francisco. Romario Conrado, San Francisco Build unity in Oakland Regarding 'Barbara Lee declares victory in Oakland mayor's race — Loren Taylor concedes' (East Bay, April 19): Congratulations to Barbara Lee on her victory in the mayoral election in Oakland. I hope that Lee leverages her decades of public service to bring positive change to our beautiful and beleaguered city at this critical moment in time. Since Lee ran on the platform of unifying Oakland, I'd like to publicly challenge her to hire her main opponent, Loren Taylor, to work with her during her tenure as mayor. What could be more unifying than offering her runner-up a job and the two of them putting aside their differences to serve all Oaklanders? Elliott Haught, Oakland Art is human Disgorging cruise ship passengers are offended by a statue of a large female form, surely you jest? This is San Francisco, for God's sake, a nude female statue is going to be the least offensive thing you find on your visit to our fair city. What about the statue of David and other European nudes? Do these also offend the cultural sensitivities of visitors to Europe? I mean, we are really in trouble if a non-sexualized nude female statue is offending people in San Francisco. If you really want to be offended, take a look at all the advertising and media using hyper-sexualized female forms and the degradation of women in general, especially in our current political environment. Now that's something to be offended by. Jen Fisher, Berkeley
Reuters
11-04-2025
- Business
- Reuters
Cambridge, UN pension scheme back novel climate-focused bond index
Summary Up to $750 million to be invested to track the index Strips out companies driving fossil fuel expansion CalSTRS, USS among those to advise on methodology LONDON, April 11 (Reuters) - Cambridge University and the U.N. pension scheme will move up to $750 million of their investments to track a novel bond index that will exclude or limit exposure to companies helping to expand production of climate-damaging fossil fuels, executives told Reuters. While some investors have already cut exposure to the stocks of companies involved in the oil and gas sector, most of the money bank-rolling the expansion of fossil fuel production comes from loans and bonds, many issued by private or state-owned firms. "Those decisions are the critical ones," said Anthony Odgers, the university's chief financial officer. "The key thing is that... you've got to think about the bond and bank markets rather than the equity market." While existing bond indexes allowed you to exclude the oil and gas sector as a whole, none allowed you to exclude a company based on what it was doing to expand production, he said. The OECD put global corporate debt at $35 trillion at the end of 2024. To align their fixed income holdings with the world's aim of limiting global warming to well-below 2 degrees above the pre-industrial average, Cambridge developed the index methodology with technical help from a group of asset owners. As well as the U.N. pension scheme, others involved included the California State Teachers' Retirement System (CalSTRS), Britain's Universities Superannuation Scheme and the Swiss Federal Pension Fund PUBLICA. Investing in the index would be of particular help to those smaller asset owners who are keen to align with the world's climate goal but which have fewer resources to track companies' climate performance, said Pedro Guazo, who oversees investments at the United Nations Joint Staff Pension Fund. At launch, Cambridge will move up to 200 million pounds ($261.28 million) in corporate bond holdings to track the index, while the U.N. fund will move up to $500 million. As well as assessing the actions of issuers in the oil and gas sector, the index will also look at the lending practices of major banks and the underwriting policies of insurance companies. Lily Tomson, Senior Research Associate at Jesus College, who led the project, said excluded companies could return if their activities change, and that the ability to engage with companies over their inclusion was a "key lever" for investors. Due to be launched by Bloomberg Index Services Limited, details of the constituents in the Bloomberg Cambridge University fixed income index were not disclosed.
Zawya
28-03-2025
- Business
- Zawya
Abu Dhabi's Mubadala invests fresh capital in US real estate lender
Abu Dhabi's Mubadala Investment Company has infused fresh capital into US alternative real estate commercial lender 3650, following a new round of funding. The funding round also saw 3650 draw a repeat investment from the California State Teachers' Retirement System (CalSTRS) for a total of $215 million in new investments. While financial details of Mubadala's investment have not been disclosed, the sovereign wealth fund's website states its real estate team joined 3650 REIT and CalSTRS in committing up to $4 billion to the US real estate credit markets. 3650 said the capital will help with lending strategies and support multiple investment products that provide long-term, fixed-rate financing, as well as transitional loans. In Q3 last year, 3650 drew close to $430 million in capital commitments from CalSTRS as well as Singapore's state-backed Temasek. The investment was preceded by a $100 million commitment from Public Officials Benefit Association (POBA), the Seoul, South Korea-based public pension fund. 3650 manages a loan servicing portfolio of approximately $18 billion in commercial real estate loans and securities. (Writing by Bindu Rai, editing by Brinda Darasha)
