CalPERS reports $60 billion climate solutions portfolio, expands sustainable investments team
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Summary
CalPERS said its climate solutions portfolio stands near $60 billion toward a $100 billion 2030 target, has expanded its sustainable investments team and reported strong private equity returns and allocations to diverse and emerging managers.
An unnamed CalPERS executive told attendees the system’s climate solutions portfolio stands at about $60 billion and reaffirmed a target of $100 billion by 2030, citing investments in renewable energy and technologies to help the grid adapt to increased demand.
The speaker said the sustainable investments team grew from eight to 18 people with two additional positions open, and highlighted that CalPERS increased staffing at a time when some large institutional investors were reducing similar teams. "Our sustainable investments team has grown from 8 to 18 people with 2 additional positions, to be filled," the speaker said.
On returns, the executive cited reporting from Pensions & Investments that CalPERS’ private equity portfolio returned 14.3% in the last fiscal year and outperformed 74 other large U.S. pension funds, and noted allocations of more than $6.6 billion to diverse investment managers and about $2.2 billion to emerging managers in the last fiscal year.
The remarks also covered talent recruitments for senior investment roles and recognition for member-facing teams, including the contact center, which the speaker praised for handling volume spikes. The speaker closed by offering Thanksgiving wishes and returning the meeting to President Taylor.