Report blasts CalPERS environmental and social activism

[alp227]

Source: Sacramento Bee

The nation’s largest public pension fund is leaving money on the table by favoring environmental and social causes in its portfolio, a business-backed nonprofit argues in a study it’s releasing Tuesday on the California Public Employees Retirement System.

The report by the American Council for Capital Formation criticizes CalPERS’ sustainable investing strategies, which include engaging with companies to encourage them to address climate change, pressuring companies to diversify their boards of directors and investing in certain funds that nurture companies with those priorities.

The report argues those strategies have not paid off and that CalPERS would do better to focus solely on making money to protect the pensions of 1.8 million California public workers and retirees.

“The use of these funds to advance an environmental agenda has plunged the system and California into a building financial crisis,” the report says.

Read more: http://www.sacbee.com/news/politics-government/the-state-worker/article188047259.html

[sandensea]

1. American Council for Capital Formation is a John Bircher front

Their "studies" belong in the Bush library - sandwiched in betwwen all the other lies.

[SunSeeker]

2. As someone who relies on CalPERS for my pension, I want socially conscious investments.

The investments that have lost CalPERS the most money were not the most progressive investments but rather the massive real estate development investments it made, like the $1 Billion loss it suffered during the housing bubble on the Newhall Ranch Project, which was fought by environmentalists. http://articles.latimes.com/2009/jul/21/business/fi-newhall21. Another big losing project looks like it might actually end up making money for CaPERS, after real estate recovered. http://www.sacbee.com/news/business/real-estate-news/article2603824.html

CalPERS is recovering from those real estate investments and is now making good returns. It pulled in an overall 11.2% return on its portfolio, with the best performers, at over 17%, being its stocks, which include those socially conscious stocks this report is complaining about.
http://www.barrons.com/articles/calpers-is-doing-alright-but-not-great-1500313513

This report sounds like a hatchet job by right wing business interests who have a right wing political agenda. They can go fuck themselves.

[still_one]

3. This group that did this study only goal is making money no matter who gets hurt. They are

anti-environmentalists, so it should not be a surprise they would criticize Calipers.

The Council for Capital Formation was founded by ex-Nixon and Reagan people.

Gee, why don't I have the KKK do a study on race in the country and publish it?





https://www.sourcewatch.org/index.php/American_Council_for_Capital_Formation

[sinkingfeeling]

4. Sounds like my broker when I told him I wanted my money in social conscience investments.