A view of California Public Employees’ Retirement System (CalPERS) headquarters in Sacramento, California, U.S. February 14, 2017. REUTERS/Max Whittaker/File Photo Acquire Licensing Rights
Nov 3 (Reuters) – California’s top public pension fund on Friday said it will more than double its climate-focused investments to $100 billion by 2030 and consider selling stocks in companies with poor plans for the energy transition.
Staff for the California Public Employees’ Retirement System (CalPERS) said the plan will boost returns for the $444 billion system, the largest in the U.S., plus cut in half its portfolio’s “emissions intensity,” a measure of emissions relative to output.
“We believe there’s a full opportunity set coming about from the transition to a lower-carbon economy,” said Peter Cashion, CalPERS head of sustainable investing, in a call with reporters on Thursday.
The moves…
