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Retiree asks how CalPERS will defend climate-action investments under congressional review; trustee stresses long-term focus
Summary
A retiree asked how CalPERS will defend its Climate Action Plan and related investments after House members requested records; board member Yvonne Walker said investment decisions are made for fund returns and long-term risk management, not politics.
A retiree raised questions about CalPERS' Climate Action Plan and congressional requests for documents, asking how the board would defend investments tied to clean energy and technology and referencing concerns about a $100 billion program.
"We've seen acceleration in global warming," the caller said, and added that three members of Congress had requested records about CalPERS' clean-energy investments. He asked how the board would protect the pension fund's financial interests.
Yvonne Walker responded that CalPERS and the board take long-term financial risks into account and do not make investment decisions for political reasons. "We don't make any decisions or any investment if it is not good for the fund," she said, and described the board's duty to evaluate alternatives to preserve returns over the long haul.
Walker acknowledged congressional scrutiny but characterized some review as political and reiterated that the board's mandate is to protect members' retirement security through disciplined, long-run investing.
The call did not include detailed financial disclosures about the Climate Action Plan's size or holdings; Walker emphasized continued oversight and long-term stewardship.
