CalPERS’s, the $220bn pension giant, has shifted $500mn to a new "inclusive" environmental portfolio strategy. Its previous policy, started in 2006, was to exclude big polluters via environmental screens. In contrast, companies included in the new portfolio will have to derive a material portion of their revenues from low-carbon energy production. George Diehr, chairman of CalPERS’ investment committee, said that research showed a positive inclusionary methodology for investing in listed companies was more successful than a negative exclusionary approach.
Through its Environmental Technology program, CalPERS has also to date invested $1.5bn in private equity clean-tech mandates. Read more about CalPERS' actions here.
No comments:
Post a Comment