Established in 1937, Teacher Retirement System of Texas is a retirement system that serves approximately to 1.9 million people of which over 1 million are public and higher education members and over 400,000 are retirement recipients and beneficiaries. It is responsible for investing funds under its stewardship and for delivering benefits to authorised members by the Texas Legislature.
Teacher Retirement System of Texas discloses the proportion of women in its total direct operations workforce for each employee category. Besides, the financial institution has a grievance mechanism accessible to all workers, external individuals, stakeholders and communities to raise complaints or concerns regarding human rights or bribery and corruption.
In terms of its approach to senior leadership accountability, Teacher Retirement System of Texas has an opportunity to assign responsibility for sustainability to its highest governing body and link the remuneration of its executive or management teams to sustainability performance criteria. Furthermore, no evidence was found that the financial institution is committed to gender equality and women’s empowerment. Teacher Retirement System of Texas could disclose the proportion of women in senior leadership roles as well as how it addresses any gender pay gaps. The financial institution has an opportunity to describe its engagement approach on sustainability themes and impact topics with investees.
There is no evidence that Teacher Retirement System of Texas discloses a target to reach net-zero financed emissions by 2050. It has an opportunity to disclose the key sectors and companies it has identified as priorities to engage with on climate change, specifically on the alignment with the Paris Agreement. Furthermore, it could disclose the amount of its investment devoted to climate solutions. Regarding nature and biodiversity, no evidence was found that the financial institution is committed to minimising its negative impacts or financing regenerative solutions.
There is no evidence that Teacher Retirement System of Texas has a publicly available policy statement committing it to respect human rights laid out in the UN Guiding Principles and the ILO declaration on fundamental rights at work. Therefore, it has an opportunity to describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its investment activities. It also has an opportunity to disclose the proportion of its total direct operations workforce for each employee category by age group and by gender. To provide transparency on financial inclusivity, the financial institution could disclose the amount of finance directed towards low-income developing countries.