GLOBAL - The California State Teachers' Retirement System (CalSTRS) and the North Carolina Retirement System are among shareholders who have pressured companies to address business challenges posed by climate change.

MIDDLE EAST - BNP Paribas Investment Partners (BNPP IP) and the Saudi Investment Bank (SAIB) have formed an asset management firm in the Kingdom of Saudi Arabia.

US - The shock US$236m fire-sale of Bear Sterns bank to JPMorgan earlier this week has led to substantial losses among pension funds holding Bear Sterns stock.

MARTIN CURRIE is to enter the fund of hedge funds market with the launch of its Omnium fund in April.

NORTH Yorkshire County Council has gone out to tender for a actuary for its £1.2bn pension fund.

JUST RETIREMENT has announced its interim results for the six months ended December 31 2007.

US - The California State Teachers' Retirement System (CalSTRS) has awarded a $200m private equity mandate to Invesco Private Capital.

UK - Watson Wyatt has poached former staffer Keith Jecks from ABN AMRO, where he spent four years as global head of pensions advisory.

PROPOSALS from The Pensions Regulator and the Accounting Standards Board could speed up the demise of UK defined benefit schemes, the Occupational Pensions Trusts warns.

SHORT-TERM volatility will not have a significant impact on workplace pensions, the National Association of Pension Funds says.