CalPERS Again Earns 'AAA' Grade in Asset Owners Disclosure Project 2015 Climate Change Survey
April 29, 2015
Robert Udall Glazier, Deputy Executive Officer
Brad Pacheco, Chief, Office of Public Affairs
Contact: Joe DeAnda, Information Officer
Climate Index ranks System in top five of world's 500 largest asset owners
SACRAMENTO, CA - The California Public Employees' Retirement System (CalPERS) today announced that it has again earned a 'AAA' grade from the Asset Owners Disclosure Project (AODP), one of only 9 organizations to do so, ranking third on the organizations index of the world's 500 largest asset owners. CalPERS also ranked third on the 2013-14 index, at that time jumping 12 spots from number 15.
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 practices, sends the survey to the world's 500 largest asset owners. Participants include pension, superannuation, insurance, and sovereign wealth funds.
"CalPERS is pleased to once again be recognized by the AODP," said Anne Stausboll, CalPERS Chief Executive Officer. "CalPERS takes climate change seriously and recognizes the risks and opportunities it presents. This year's survey shows how far we have come in addressing climate change, but also how far we still have left to go."
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 incentive 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. Find more information on the survey and rankings.
For more than eight decades, CalPERS has built retirement and health security for state, school, and public agency members who invest their lifework in public service. Our pension fund serves more than 1.7 million members in the CalPERS retirement system and administers benefits for 1.4 million members and their families in our health program. CalPERS' total fund market value currently stands at approximately $307 billion. For more information, visit www.calpers.ca.gov.