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The Latest Breaking News from CalPERS

Why Companies Are Ditching ESG

Many have started to recognize a need to focus on their core business rather than virtue-signaling.

Reason

Rent control battle in California heats up, opposing investors pump money

Developers opposed to repeal of Costa-Hawkins Act have raised more than $124m in California.

Al Jazeera

Baldur's Gate 3 publishing director heaves a big sigh as scalpers predictably ruin it for everyone: 'All you’re doing is making someone sad'

Collector's conniption.

PC Gamer

From analysis to the latest developments in health,
read the most diverse news in one place.

Elon Musk, Tesla Lash Out As Some Institutional Investors Reject CEO Pay Package

Voting is underway ahead of Tesla's June 13 annual shareholder meeting.

Investors Business Daily

Exxon Plays Hardball Against Climate NGOs. Will Investors Care?

ExxonMobil investors will have a chance to weigh in at Wednesday's annual meeting on the company's hardball approach to the latest shareholder challenge from environmentalists over climate change.

International Business Times

California's Leaders Still Ignoring State Pension Debt

California has just 72 percent of the assets needed to make payments to retired public workers, many of whom get to collect six-figure annual payments.

Reason

Calpers Supports Peltz, Rasulo In Disney Board Dispute

CalPERS backs Peltz and Rasulo in Disney board battle for governance reform, reflecting growing investor dissatisfaction and pressure on Disney's leadership.

Top News

A surprising number of lobbyists are pulling strings for Silicon Valley

An interesting, but little-known compliance requirement makes private equity and VC firm employees register as lobbyists.

Fortune

Andreessen Horowitz is adding major California pension funds to its LP base for the first time, records show

A16z has raised $400 million from CalPERS for a new fund, and it is seeking at least one investment from CalSTRS.

Fortune

IPO market optimism, down rounds, and crypto: The biggest VC conversations last week

Investors dished on big topics in the private markets at the Primary NYC Summit last week.

Fortune

How Tiger Global fell to earth

Tiger 'cub' Chase Coleman III's firm backed the equivalent of a startup a day in 2021 at wild prices, helping inflate a venture bubble. Now the firm is facing a reckoning.

Fortune

House Judiciary Committee requests ESG documents from California pension system

House Judiciary Committee Chairman Jim Jordan (R-Ohio) requested documents late last year from the California Public Employees’ Retirement System (CalPERS), the largest public pension system in the country, and Ceres, a nonprofit group that advises CalPERS on environmental matters. The committee is seeking information about CalPERS’ ESG efforts and the…

Ballotpedia

House Judiciary Committee requests ESG documents from California pension system

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the environmental, social, and corporate governance (ESG) trends and events that characterize the growing intersection between business and politics.

Ballotpedia

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Capital & Main

One Person Stopped California’s Divestment From Fossil Fuels — Again

Assemblymember Tina McKinnor refused to take up the bill in a committee, for the second year in a row, as divestment movement grows.

Tribune News Service

In blue California, lawmakers struggle to drop fossil fuels from state pensions

California could soon divest its public pensions from fossil fuel companies, as the state legislature looks to force the nation’s largest non-federal retirement funds to sell off nearly $15 billion in assets.

Los Angeles Times

Commentary: California’s pension funds are wrecking the planet and losing billions. It’s quite a trick

I remember, more than a decade ago, sitting down with a financial executive from the Church of England in a plush London office. The organization I co-founded, 350.org, had just launched its fossil fuel divestment campaign, and we were encouraging the Anglicans to join in, on the grounds that Exxon…

Reason

Don't Let Culture Wars Weaken the Financial System

In California, officials are pushing pension funds to divest from fossil fuels, firearms manufacturers, and tobacco companies. Red states are retaliating. This is madness.

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The Independent UK

Personal data of more than 700,000 retired California workers and beneficiaries have been stolen

California officials are notifying state retirees and other beneficiaries whose personal information has been stolen

Los Angeles Times

Editorial: California should stop investing its retirement funds in fossil fuels. They’re risky and immoral

California has some of the nation’s leading climate policies, with hard deadlines to slash greenhouse gas emissions, switch to zero-emission cars and trucks and get 100% of its electricity from carbon-free sources. But so far, its leaders have lagged behind other states, like Maine and New York, in using another…

Fortune

Toyota’s board chair loses support from U.S. funds like CalPERS over slow embrace of EVs

Akio Toyoda, grandson to Toyota's founder, was slow to embrace electric cars during his time as CEO.

Capital & Main

For Kaiser Therapists, the Strike Is Over But the Work Goes On

After 10 weeks of workers walking the picket line, core issues regarding patient care remain unresolved.

Fortune

COVID, flu, RSV: The benefits of advocating for boosters in the workplace–and how to go about it

The return to the office has turned into a superspreader event.

Tribune News Service

Last year’s losses at California pension systems were larger than initial reports showed

SACRAMENTO, Calif. — California’s two giant pension systems lost a couple billion dollars more than was previously reported in the volatile markets of the first half of this year.

Ballotpedia

Economy and Society, September 27, 2022: House Financial Service Committee addresses ESG

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the Environmental, Social, and Corporate Governance (ESG) trends and events that characterize the growing intersection between business and politics.

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