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Article

5 Dec 2015

Author:
Newsmax

CalPERS Says to Engage More Companies on Climate Change

The California Public Employees Retirement System, the largest public pension fund in the United States, will begin engaging more companies in its portfolio on climate change, its head of governance said. The move follows a study CalPERS completed this year on its $300 billion portfolio's carbon footprint, which included a breakdown of the companies contributing the most emissions. "This study means that we can be laser-focused on where we take our engagement," CalPERS' Investment Director of Global Governance Anne Simpson said… Simpson said the pension fund also would begin targeting other carbon-intensive industries. She said the study revealed that fewer than 100 companies in the fund's enormous portfolio were responsible for half of its carbon dioxide emissions, including in the sectors of construction and materials, basic resources, travel and leisure, chemicals, and food and beverages…[Also refers to Exxon Mobil.]