• CalSTRS appoints a new director to guide its global sustainable investment portfolio and net zero strategy.
• The role includes oversight of private climate solutions, corporate engagement and proxy voting.
• The shift comes as major pension funds expand climate-related governance and deepen private market allocations.

New Leadership for a Growing Sustainability Mandate

The California State Teachers’ Retirement System has appointed Nick Abel as its new director of Sustainable Investment and Stewardship Strategies, placing him at the center of one of the largest public pension sustainability platforms in the United States. CalSTRS, the world’s largest educator-only pension fund, is expanding its private climate solutions portfolio and strengthening its governance agenda as global markets face accelerating disclosure, transition and investment pressures.

Abel steps into the role after more than a decade of international investment experience across asset management, consulting and portfolio leadership. He has been part of CalSTRS since 2020 and will now oversee the SISS team and the SISS Portfolio, which spans global private asset investments that are designed to deliver financial returns and climate outcomes. His remit includes stewardship priorities that increasingly shape corporate behavior in the United States and abroad.

Governance, Proxy Oversight and Policy Influence

The position reaches beyond portfolio construction. Abel will direct CalSTRS’ sustainability-related collaboration across private market asset classes, coordinate proxy voting in line with the fund’s Corporate Governance Principles and manage engagement with corporations and policymakers. The agenda includes shaping corporate climate strategy, strengthening board oversight and engaging on emerging regulations that could influence systemic financial risk.

Chief Investment Officer Scott Chan described Abel’s appointment as a strategic move that strengthens CalSTRS’ global positioning. “Nick is a respected leader who has driven long-term value creation and mitigated risks to our portfolio in support of our mission,” Chan said. “His ability to source the best partners and transactions and create innovative structures, along with his international experience, will help CalSTRS achieve its goal to be a global partner of choice.”

Abel replaces Kirsty Jenkinson, who moved into the combined role of senior investment director of Private Markets and SISS in August 2025. Abel will report directly to Jenkinson.

Continuity and Acceleration of Strategy

Jenkinson noted that Abel’s appointment supports continuity in CalSTRS’ transition strategy. “Nick’s global investment experience, excellent reputation among his peers and trusted partnerships within the industry make him ideal for this position,” she said. “He has a proven track record of creating and driving complex and impactful strategies to help us secure the financial future of California’s public educators.”

Private climate investing remains a priority for CalSTRS as pension funds seek returns in sectors tied to energy transition, infrastructure, low carbon technologies and adaptation. The SISS team plays a central role in evaluating these opportunities, coordinating with global partners and ensuring alignment with CalSTRS’ longer-term stewardship priorities and net zero pathway.

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Abel’s Perspective and Global Background

Before joining CalSTRS, Abel held roles at Wespath Investment Management, RVK and Saturna Capital. His background spans regions shaped by rapid economic development and climate exposure. He grew up in Zimbabwe, Cambodia, Vietnam and China before earning a finance degree from Western Washington University.

His experience across markets and institutions informs his approach to long-term, sustainability-focused investment. “I am honored to lead our SISS program and advance our position as an innovative global investor,” Abel said. “We have a talented team and will continue to grow our private climate solutions portfolio and use our influence as a significant long-term investor to promote sustainable business practices and public policies that drive value for California’s teachers.”

Abel also serves on advisory committees, including the Institutional Limited Partners Association, and has participated in working groups across Ceres, the Principles for Responsible Investment, the Global Impact Investor Network, Deep Transitions Futures and the Sustainable Accounting Standards Board prior to its integration with the IFRS Foundation.

What C-Suite Leaders and Investors Should Watch

The appointment reinforces several trends in global pension governance. Large funds are accelerating private market climate allocations, elevating stewardship functions and integrating policy engagement into investment strategy. CalSTRS’ structure places sustainability leadership alongside private markets, a combination that signals deeper integration of transition considerations into core portfolio decisions.

For global investors, Abel’s appointment signals continued pressure on corporations to align governance structures with transition risk, prepare for next-generation disclosure frameworks and respond to active stewardship from some of the world’s most influential asset owners. As the fund refines its net zero portfolio strategy, corporate engagement and private climate capital are set to expand in parallel.

CalSTRS’ approach will likely influence peers as pension funds recalibrate their climate strategies ahead of new regulatory cycles in the United States, Europe and Asia. The appointment is ultimately about scale and direction. It reinforces how major asset owners are embedding sustainability into leadership, governance and investment decisions that shape global markets.

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