"Most US pension funds lack a net zero commitment or a credible climate investment strategy policy, according to an analysis by the environmental nonprofit Sierra Club. Only three of the 29 pension funds reviewed earned strong marks for net zero commitments, while four scored well on climate investment strategies, the report said. Just five funds had set climate investment targets by the end of last year:"
"Calpers, the biggest US public pension fund, has set a $100 billion climate investment target by 2030, followed by a $50 billion commitment from the New York City pension funds by 2035 and a $40 billion pledge from New York state's common fund for the same period. Oregon and Minnesota funds have made smaller commitments, targeting $6 billion by 2035 and $1 billion by 2029, respectively."
Most U.S. public pension funds lack net-zero commitments or credible climate investment strategies, with only three of 29 funds earning strong marks for net-zero and four scoring well on climate investment strategies. Five funds had set climate investment targets by the end of last year: CalPERS; three New York City pension funds that share a unified strategy; the New York State Common Retirement Fund; the Oregon Public Employees Retirement Fund; and the Minnesota State Board of Public Investments. Major commitments include CalPERS’ $100 billion target by 2030 and New York City funds’ $50 billion by 2035. Many funds still have vague, incomplete commitments without clear targets, definitions, or accountability, and most lack defined investment strategies to prioritize climate solutions. The three New York City funds are NYCERS, TRS and BERS.
Read at www.mercurynews.com
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