Ginny Roscamp, Senior Press Secretary, Federal Communications, Sierra Club, ginny.roscamp@sierraclub.org
SACRAMENTO, CA — A representative with the Sierra Club’s California chapter testified at the June board meeting for California’s public pensions CalPERS, calling on the pension to provide greater transparency about its climate action plan. CalPERS, which is the largest public pension in the U.S., came under fire earlier this year for its climate solutions fund including investments in the world’s largest oil and gas companies.
“We continue to applaud the long-term commitment that CalPERS has made to addressing climate change and its move to commit 100 billion dollars to investments in climate solutions. This sum is significantly more ambitious than commitments made by CalPERS’ peers, reinforcing CalPERS’ position as a global leader in sustainable finance,” said Jakob Evans, Policy Strategist with Sierra Club California. “Transparency and accountability in all aspects of this initiative will be key to its success and must be integrated.” Read the full testimony.
Evans’ testimony highlighted the recommendations provided by the California Common Good coalition in its report on CalPERS’ climate action plan. Those core principles include:
- Adopting strong, science-based definitions of climate solutions
- Excluding companies on the Carbon Underground 200 list
- Excluding companies that have no credible transition plan
- Disclosing investments in all asset classes and methodology annually
- Committing to ongoing engagement with CalPERS plan participants and stakeholders to share updates and continue refining best practices
About the Sierra Club
The Sierra Club is America’s largest and most influential grassroots environmental organization, with millions of members and supporters. In addition to protecting every person's right to get outdoors and access the healing power of nature, the Sierra Club works to promote clean energy, safeguard the health of our communities, protect wildlife, and preserve our remaining wild places through grassroots activism, public education, lobbying, and legal action. For more information, visit www.sierraclub.org.