CalPERS announced it has committed more than $53 billion toward investing in climate solutions as part of a growing global transition toward a low-carbon economy.
The milestone comes one year after CalPERS launched its $100 Billion Climate Action Plan. The plan is a key component of CalPERS’ Sustainable Investments 2030 Strategy which – in addition to identifying opportunities for growth – seeks to reduce investment risks by cutting the emissions intensity of the fund’s portfolio in half by the end of 2030 and achieving Net Zero emissions by 2050.
“The energy transition underway represents one of the biggest investment opportunities in history,” said CalPERS Chief Executive Officer Marcie Frost. “We are providing the capital necessary to plant the seed for the low-carbon economy of the future.”
Read the full news release.