CalSTRS to lift clean energy investments to USD 3.7bn
Sep 22, 2014 - The California State Teachers’ Retirement System (CalSTRS) intends to raise to USD 3.7 billion (EUR 2.9bn) its volume of clean energy and technology investments in the next five years.
The figure compares to USD 1.4 billion at present.
The pension fund said in a press release on Friday that its clean energy and low-carbon investment could jump even further, to nearly USD 9.5 billion, in the event that a “meaningful” price on carbon emissions is introduced, said Christopher J Ailman, chief investment officer of CalSTRS.
“Strong new climate and clean energy policies are urgently needed at the national and international levels to facilitate scaling up investments in climate solutions,” added CEO Jack Ehnes.
Presently, CalSTRS’ private equity portfolio includes over USD 500 million of investments in solar and wind power projects across the US and Europe. As per its infrastructure portfolio, the fund has spent almost USD 200 million on solar, wind and hydropower schemes and transmission assets in Brazil, Chile, the UK and in other European countries as well as in North America.