CalPERS Calls BP Shareowner Victory a "Game Changer"
April 17, 2015
Robert Udall Glazier, Deputy Executive Officer
Brad Pacheco, Chief, Office of Public Affairs
Contact: Joe DeAnda, Information Officer
SACRAMENTO, CA - Anne Stausboll, Chief Executive Officer for the California Public Employees' Retirement System (CalPERS) issued the following statement today after 98 percent of BP shareowners voted for a resolution to require the company to disclose the risks it faces from climate change:
"The overwhelming shareowner support for this resolution is a game changer in our quest for stronger reporting on climate change risks and opportunities. It sends a strong signal to the financial markets that the time has come to make climate change reporting the new normal, and it raises the bar for all companies to pay close attention to the risks and opportunities related to climate change. The support is also an example of the progress that can come from thoughtful engagement between shareowners and the companies in which they invest in. We look forward to working with our fellow shareowners to ensure the resolution is implemented, and we applaud BP for its management support of this important issue."
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.