The California Public Employees' Retirement System (CalPERS) today announced that it has earned an 'A' grade from the Asset Owners Disclosure Project (AODP), one of only 22 organizations to do so, ranking number 15 on the list of the world's 1,000 largest asset owners in the AODP 2012 Global Climate Index survey.
The AODP, an independent not-for-profit global organization, whose objective is to protect members' retirement savings from the risks posed by climate change by improving the level of disclosure and industry best practice, sends the survey to the world's 1,000 largest asset owners. Participants include pension, superannuation, insurance and sovereign wealth funds.
"CalPERS is thrilled to receive this recognition from the AODP," said Anne Simpson, CalPERS Senior Portfolio Manager and Director of Global Governance. "Climate change poses both risks and opportunities for a long term, global investor such as CalPERS. The issues raised by climate change are complex and challenging. They require time, attention and coordination between investors, companies and policy makers."
The survey is comprised of approximately 50 multiple-choice questions covering the five main areas of a fund's operations and investments: transparency, low-carbon investment, active ownership, risk management and investment chain alignment. Data is sourced from public information as well as disclosures that funds provide through the survey. The data is analyzed and ratings are applied to all funds.
The survey provides participants with valuable insight into the strategies deployed by some of the largest asset owners in the world in relation to climate change. The survey also encourages funds to engage in climate change-related issues, often for the first time.
CalPERS is the largest public pension fund in the U.S. with approximately $255 billion in assets. The retirement system administers retirement benefits for more than 1.6 million current and retired California State, public school, and local public agency employees and their families on behalf of more than 3,000 public employers in the state, and health benefits for 1.3 million enrollees. For more information about CalPERS, visit www.calpers.ca.gov.
