CalPERS will be carrying out 17 proxy solicitations around climate change risk this proxy season, including co-filing climate-related proposals at Exxon Mobil Corp., Chevron Corp. and Occidental Petroleum Corp., said Theodore Eliopoulos, chief investment officer, at a Monday pension fund board meeting.
These efforts will support fellow investors in the Investor Network on Climate Change led by Ceres, an investor advocacy group addressing climate and other sustainability issues, Mr. Eliopoulos said.
Generally speaking, these efforts focus on climate risk reporting or proxy access, a spokeswoman added.
The Exxon proposal seeks information on how the company will be affected by efforts to mitigate climate change. A similar resolution at last year's annual meeting received support of 38.2% of voting shares.
In 2016, the $311 billion California Public Employees’ Retirement System, Sacramento, carried out 12 proxy solicitations around climate risk in 2016 and the level of support doubled to an average of 30% from the year before.
