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CalPERS Presses for Environmental Disclosure

CalPERS is committed to environmentally responsible practices. In achieving these objectives CalPERS has successfully completed a number of initiatives, including the development of the Global Framework for Climate Risk Disclosure via the Climate Risk Disclosure Initiative and the Electric Utilities Greenhouse Gas Reporting Project.

CalPERS has played a key role in a national effort to seek federal regulations to address climate change. The "Call to Action" campaign organized by CERES and the Investor Network on Climate Risk (INCR) held a press conference in Washington, D.C., on March 17, 2007, starting the campaign, to draw attention to the fact that the uncertainty created by the lack of a national policy on climate changes increases risks for both investors and businesses as they engage in long-term strategic planning, asset management, and capital budgeting. This effort has continued with many subsequent follow-up contacts with high-level administrative staff, congressional leaders, and the Securities and Exchange Commission (SEC). CalPERS considers the recent SEC's new interpretive guidance, issued February 2, 2010, a very positive response and a significant step forward in providing registrants valuable information about how to apply longstanding disclosure requirements to the evolving challenges posed by climate change. The measured, concrete steps outlined in the guidance will improve disclosure of material information, which will in turn improve investor decision-making.

To further advance environmental disclosure, CalPERS is committed to the following:

April 23, 2010
SEC's Climate Change Transparency Op-ed (Co-Authored by CalPERS CEO Anne Stausboll)