The California State Teachers’ Retirement System (CalSTRS) is seeking to formulate a policy for full disclosure of political donations by U.S. companies, Pensions & Investments reports. The investment committee of CalSTRS will consider the proposal in September.
California state treasurer Bill Lockyer, who is also a trustee of CalSTRS and the California Public Employees’ Retirement System, asked the systems to develop corporate governance policies on political campaign spending, adds Financial Times. The move is likely to add pressure on boards to avoid overt political spending.
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