CalPERS is developing a unified sustainable investing policy across all asset classes.
Following a workshop on sustainable investing for the investment committee of the California Public Employees' Retirement System, Sacramento, Anne Simpson, senior investment officer and chief of CalPERS corporate governance program, told committee members that staff would develop a framework for a unified approach that would improve the quality of the fund's decision-making, according to Clark McKinley, spokesman for the $235.9 billion pension fund, who attended the meeting.
Chief Investment Officer Joseph Dear noted the goal was to replace a scattershot approach with a clear policy, Mr. McKinley stated.
It is estimated it could take up to five years to fully implement the strategy. According to materials provided to the committee for the workshop, the sustainable investing policy could be included in the fund's asset allocation analysis. Mercer assisted.