ESG & Investing
California Pension Fund Labels Chevron and Saudi Aramco as Climate Investments
Calpers’ climate portfolio includes 52 of the world’s largest greenhouse gas emitters, according to a new report.
The California Public Employees' Retirement System offices in Sacramento, California.
Photographer: Ken James/BloombergThis article is for subscribers only.
The US’s largest pension fund has classified more than $3 billion of holdings in oil drillers, coal miners, and other major greenhouse gas producers as climate-friendly investments, according to a new analysis of public records.
Stakes in Saudi Aramco, Chevron Corp. and Chinese coal company Inner Mongolia Dian Tou Energy are among the holdings that California Public Employees' Retirement System labeled as “climate solutions.”