The California State Teachers’ Retirement System today announced its involvement with the Energy Productivity Index for Companies, a new project that will establish the first global energy productivity benchmark for listed industrial companies. The project was officially launched today in New York.
The project is a partnership between CalSTRS, ClimateWorks Australia and the US-based ClimateWorks Foundation. CalSTRS is participating in the project as lead investor, providing valuable industry knowledge as well as a portfolio of companies to demonstrate the analysis and engagement methodology.
CalSTRS Portfolio Manager, Corporate Governance, Brian Rice said, “Improving energy productivity is a business tactic with growing importance. It is associated with mitigating carbon pollution – which in turn reduces business risk. The project will demonstrate the process investors need to implement to identify and engage with companies and succeed in improving energy productivity performance.”