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The California Public Employees' Retirement System (CalPERS) today called on the federal Environmental Protection Agency (EPA) to finalize proposed carbon pollution emission guidelines for existing power plants calling the standards an "important step in mitigating systemic risk posed by climate change."
In a letter to the EPA, Anne Stausboll, Chief Executive Officer for CalPERS wrote, "As a long-term investor, CalPERS is keenly interested in risks that emerge slowly over time and have the potential to materially impact portfolio performance if not properly addressed. CalPERS believes risks due to climate change fit this category. CalPERS views the proposed rule as a useful measure in mitigating risks posed by climate change."
In our view, the proposed rule thoughtfully and thoroughly presents a building block approach in setting each state's goals and the best system of emission reduction. It also catalyzes energy efficiency and renewable energy deployment, which should benefit both CalPERS and other long-term investors with exposure to renewable energy companies."
Read the CalPERS letter.
