Peter Cashion will be joining CalPERS in March as managing investment director for sustainable investments, according to a Thursday news release from the pension fund.
Mr. Cashion currently is global head of climate finance and CIO of the financial institutions group in the World Bank's International Finance Corp.
He will replace James Andrus, who was named to the post on an interim basis in January 2022 after Anne Simpson left CalPERS to join Franklin Templeton as global head of sustainability. Mr. Andrus will be returning to his position of financial market strategist, said Nicole Ortega, CalPERS spokeswoman in an email.
Mr. Cashion will report to Nicole Musicco, CIO for the $441.4 billion California Public Employees' Retirement System, Sacramento. He will be lead the development and implementation an economics-based framework to environmental, social, and governance factors into CalPERS' investment decision-making process.
World Bank officials could not be immediately reached for information on his replacement.
