CalSTRS reported Wednesday that it voted on 1,033 shareholder proposals in the 2022 proxy season, with almost 100 CalSTRS-supported proposals receiving support from more than 50% of shareholders.
The proposals included aligning corporate activities with the goals of the Paris Agreement on climate change, enhancing transparency and disclosures on racial equity, and strengthening governance practices.
Last year, CalSTRS voted on 811 shareholder proposals.
The $314.8 billion California State Teachers' Retirement System, West Sacramento, voted in support of 244 shareholder proposals on human capital management, workplace diversity and racial equity audits.
CalSTRS also voted for shareholder proposals that eliminate forced arbitration and gag clauses and engaged with large corporations "to ensure persistent systemic harassment is not tolerated in the workplace," a news release said.
For the next proxy season, CalSTRS officials plan to, among other things, put direct pressure on corporations to provide investor-useful disclosures.