New Report. Climate Change Harming Pension Returns.

The report:  California Public Employees’ Retirement System first climate change risk report

What did the report find? 20% of CALPERS investments negatively impacted by climate change

Why did CALPERS issue this report? Required by the California legislature in 2018

What 4 sectors are economically impacted?

• energy stocks (including utility holdings) 8% of CALPERS equity
• materials and building sector 6 % of CALPERS equity
• transportation 3% of CALPERS equity
• agriculture, food, and forestry 3% of CALPERS equity

Chief Investment Officer | One-Fifth of CalPERS Equity Portfolio Faces Climate Change Risk