Sierra Club Urges CalPERS to Better Define What the Pension Considers ‘Climate Solutions’ Investments - CleanTechnica

The Sierra Club’s California Chapter recently testified at a California Public Employees’ Retirement System (CalPERS) board meeting, urging the pension fund to better define and disclose the criteria it uses to classify its investments as “climate solutions.” CalPERS, the largest public pension fund in the U.S., reported it has invested $60 billion toward its goal of $100 billion in climate-related investments by 2030. However, concerns remain about what qualifies as a climate solution, especially after it was revealed that fossil fuel investments were included in this category. The Sierra Club delivered a petition signed by 620 members, including 218 CalPERS beneficiaries, calling for clearer principles that exclude fossil fuels and focus on genuine decarbonization efforts. During the meeting, CalPERS board member Mullissa Willette acknowledged the need for stronger, transparent principles to guide climate investments and called for staff to disclose the criteria used. Sierra Club policy strategist Jakob Evans emphasized that adopting clear principles would not only strengthen Cal