The California Public Employees’ Retirement System (CalPERS) announced today almost $10 billion in new actions aimed at investing in the global transition to a low-carbon economy, including new private market investments and a customized public equity index to enhance the pension fund’s climate-aware investing.
“The CalPERS Climate Action Plan is designed to take advantage of the rapid growth in climate transition investment opportunities, the kind of high-quality investments that are essential in paying the retirement benefits promised to our members and their families,” said CalPERS Chief Executive Officer Marcie Frost. “As we continue to measure the portfolio risks posed by climate change, our long-term strategy must also include providing some of the capital needed to finance the decarbonization of the global economy.”
More details can be found in our news release.