CalPERS, the country's largest public pension fund which pays for the retirements of CA's public sector workers, is $139B short of being able to fund its obligations so it's backtracking on socially responsible investing because its returns are too low.https://www.wsj.com/articles/calpers-dilemma-save-the-world-or-make-money-11560684601?utm_source=newsletter&utm_medium=email&utm_campaign=newsletter_axiosprorata&stream=top …
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That pension plan is too big. They cannot afford to not invest in whole sectors, just because they may not be ESG. Also, they need to lower their proposed rate of return - again...
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He probably didn't make the investment FWIW https://www.google.com/amp/s/www.wsj.com/amp/articles/biggest-u-s-public-pension-looks-to-china-for-new-investment-chief-1537376027 …
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