Green Bond Fact Sheet
California State Teachers’ Retirement System

Date: 15/11/2020

Issue date: 19-12-19 Maturity date: 1-8-2049 Tenor: up to 30 yearsIssuer Name

California State Teachers’
Retirement System (CALSTRS)

Amount Issued

USD272.6m

Country of risk

United States

CBI Database

Included

Issuer Type1

Financial Corporate

Bond TypeUse of Proceeds Bond

Green Bond Framework

N/A

Second party opinion

N/A

Certification Standard

Certified under Climate Bonds
Standard v2.1, including
sector-specific criteria for:

Assurance report

pre issuance verification

Green bond rating

N/A•Low Carbon Buildings(Commercial)
Certification Verifier

Kestrel Verifiers

Use of Proceeds☐ Energy☐ Solar☐ Onshore wind
☐ Offshore wind
☐ Geothermal☐ Hydro☐ Tidal☐ Biofuels☐ Bioenergy☐ Waste to energy☐ District heating☐ Electricity grid

☐ Energy storage☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation &resilience☒ Buildings☒ Certified Buildings☐ HVAC systems☐ Energy performance☐ Water performance☐ Energy storage/meters☐ Other energy related☐ Industry: components☐ Adaptation &resilience☐ Transport☐ Electric vehicles☐ Low emission vehicles☐ Bus rapid transit☐ Passenger trains☐ Urban rail

☐ Freight rolling stock☐ Coach / public bus☐ Bicycle infrastructure☐ Energy performance☐ Transport logistics☐ Infrastructure☐ Industry: components☐ Adaptation &resilience☐ Water & wastewater☐ Water distribution☐ Water treatment☐ Wastewater treatment☐ Water storage☐ Storm water mgmt
☐ Flood protection☐ Desalinisation plants☐ Erosion control☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation &resilience☐ Waste management☐ Recycling☐ Waste prevention☐ Pollution control☐ Landfill, energy capture☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation &resilience☐ Land use &agriculture☐ Afforestation/parks☐ FSC Forestry☐ FSC Cellulose & paper☐ Land remediation☐ Energy/water efficiency☐ Sustainable agriculture☐ Adaptation &resilience

Issue details
ReportingThe issuer will carry out public reporting in accordance with the Municipal Securities
Rulemaking Board (MSRB)’s rules. They will also submit statements to CBI which state that thebond remains in compliance with the Climate Bonds Standard.
As a California state agency, the issuer will annually report on the water and electricity
consumption of the building on the webpage below.
https://green.ca.gov/buildings/department/CALSTRS#chartanchor

Company information

CalSTRS is the 11th largest public sector pension fund in the world. In 2017, it included 933,000
members and beneficiaries. As of August 2019, it managed USD238bn worth of assets.

Firsts, records andcertificationsFirst building owned by a pension fund to acquire Certification for a green bond issuance.

Proceeds description

The proceeds will be used to finance the expansion of the CalSTRS Headquarters, which islocated in Sacramento, California. The construction of the new building is due to begin inNovember 2019 and the planned completion date is Spring 2022. This extension is projected tomeet the emissions threshold which has been developed for Sacramento, using the Trajectory
method of the Low Carbon Buildings Criteria.
The new 10 storey building will add 260,000 square feet of office space to the existing building,which has 409,000 square feet of office space. The existing building also has a LEED Platinum
rating.

Climate Bonds view

California has been very active on climate finance. Various initiatives have been done by
local municipalities and state governments.

Underwriters
Deal comments
Credit Rating

A1 (Moody's)
A+ (S&P)

Pricing summary
Investors summary
1Issuer categories: ABS, development bank, financial corporate, government-backed entity, loan, local government, non-financial
corporate, sovereign