Golden Gate Bridge

San Francisco Pension Votes to Engage With Fossil Fuel Companies Over Climate Change; Next Step Could Be Divestment

The Board of the San Francisco Employees’ Retirement System (SFERS) voted Wednesday to begin engaging with the fossil fuel companies in which it invests. The vote opens the door for an eventual vote on divesting from fossil-fuel companies altogether – an idea that is sure to receive mixed reviews from board members and city officials. The pension ...
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CalPERS, CalSTRS to Step Up Climate Change Engagement Efforts

CalPERS and CalSTRS have issued a joint statement recounting their track records on engaging corporations on the topic of climate change. The statement also outlines future initiatives aimed at stepping up their corporate engagement on the sustainability front. From the statement: We recognize climate change as a material risk to society, the economy, ...
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Study: Pensions Put Pressure on Private Equity to Formulate Environmental, Social Investment Policies

Research from the London Business School shows that the vast majority of large private equity firms – 85 percent – are feeling increased pressure from Europe’s institutional investors to incorporate environmental, social and governance (ESG) considerations into their investment policies and processes. Details from Investments & Pensions Europe: The ...
Calpers

CalPERS Board to Study Impact of Income Inequality on Pension Funds

CalPERS’ Board of Administration will discuss the impact of income inequality on institutional investors at their next meeting, according to slides made available on the pension fund’s website. The Board of Administration’s investment committee will discuss the issue next week. More from the National Law Review: The slide presentation prepared ...
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California Bill Would Force CalPERS, CalSTRS To Divest From Coal

California Senate President Kevin de Leon has introduced a bill that would force the state’s pension funds to exit all coal investments. Additionally, CalSTRS and CalPERS would be prohibited from making new coal investments until 18 months after the bill becomes law. De Leon hinted in November that he would introduce such a bill, and the pension ...
Calpers

CalPERS CEO: “The Companies We Invest In Have to Be Sustainable”

CalPERS CEO Anne Stausboll sat down with the Financial Times for an extensive interview last week. She talked about her push to make CalPERS an agent of change on social and environmental issues, including the use of shareholder power to engage with companies about sustainable business practices. Here’s that excerpt, from the Financial Times: Where ...
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Institutional Investors Push Oil Giants to Disclose Climate Change Risks

A coalition of 150 investors – including pension funds from around the world – are calling on oil giants BP and Shell to provide greater transparency regarding the risks that climate change poses to their business models. More from Chief Investment Officer: The coalition, which includes pension funds from the UK, US, and Northern Europe, has submitted ...
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Shareholder Engagement Produces Few Results, Says Activist Investor

Shelley Alpern, Director of Social Research & Advocacy at Clean Yield Asset Management, penned a piece on Monday weighing in on fossil fuel advocacy among institutional investors. Most institutional investors have declined calls to divest from fossil fuel assets, citing their fiduciary duties as a major reason. Instead, many have opted to use their ...
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Sustainable Investing Experts Weigh In On Fossil Fuel Divestment; Is Engagement A Better Strategy?

Different pension funds have different opinions on how climate change should affect investment strategy. Some, like Norway’s largest pension, are willing to divest from certain fossil fuels entirely. Others, like CalPERS, prefer to use their leverage as major shareholders to engage with companies rather than divest. Many others cite their fiduciary ...
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California Senator Formulating Bill to Force CalSTRS, CalPERS to Divest From Coal

California Senate President Kevin de León said Monday he may introduce a bill in 2015 that would require the state’s pension systems – CalPERS and CalSTRS, two of the largest systems in the world – to divest from coal-related investments. The bill wouldn’t cover oil or gas investments. The legislation seems to be in its earliest stages. The ...
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