Despite the exit of some major firms, asset managers representing $4.6 trillion say they remain committed to the initiative.
The fund’s deputy CIO will step up to replace the long-tenured Chris Ailman.
The giant pension fund has a history of pushing for environment-oriented goals.
The CalSTRS search committee will meet on April 11 as it continues the process of hiring a successor for CIO Chris Ailman.
A huge wave of change will create substantial risk and opportunity for institutional investors across geographies, sectors and asset classes.
As it stands, shareholders must assent to M&A or related-party deals. But the FCA wants to ease listing requirements to stem companies decamping to New York exchanges.
The amount of investment needed for this enormous task is $4 trillion yearly, but the effort is gearing up now.
Consulting firm Oliver Wyman predicts even greater use of this category of debt.
Risk grows as a raft of junk-rated issuers, paying modest interest, must refinance their debt at much higher rates.