Californias state pension fund pushes companies to cut carbon

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Almost two million californians receive a pension from calpers the california public employees retirement system. Because we're a pension fund we rely on companies thriving in the economy to generate the returns and we pay pension after that but ian simpson of cowper says climate change may put those investments at risk because extreme weather can hurt company profits and if governments require cuts to carbon pollution companies. Relying on fossil fuels may lose money. We need to think about. How do we manage that risk. How do we mitigate that risk. Don't just lie there on the railway tracks waiting to be run over working with other large. Investors calpers is helping to lead the climate action. One hundred plus coalition. The initiative uses its combined financial clout to pressure companies to reduce their carbon pollution. Many are responding because when money talks it has impact and for climate action. One hundred loss. We now have futi trillion dollars in investment. Signed up to making this successful. We've got very ambitious goals. But we cannot let out. The urgency is absolutely upon us

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