According to a news release from the pension giant, CalPERS will pursue the following initiatives with the aim of improving environmental data transparency:
- signing on to the Global Carbon Disclosure Project, which is an international effort to improve the transparency of business risks associated with climate change due to rising levels of greenhouse gases
- improving data transparency in the automotive industry by supporting shareholder proposals at Ford and General Motors, and possibly at other auto manufacturers as well
- exploring opportunities to develop a model greenhouse gases reporting project that ensures timely and standardized disclosure of environmental data in the utilities industry.
- recognizing companies that demonstrate best practices in environmental data transparency.
The environmental push follows last year’s $200 million Environmental Technology Program that targeted private equity investments.
“Information is a necessary tool for investors,” said Rob Feckner, Acting President of CalPERS, in the news release. “Shareowners need information on environmental liabilities to make informed investment decisions and assess costs associated with the impact to the environment.”
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