Posted on 02/09/2023 5:59:19 AM PST by Glennb51
You may have heard the term “ESG” popping up in the news lately.
Environmental, social, and governance (ESG) disclosures provide important metrics to understand how a company’s practices could impact future financial performance. CalPERS uses an ESG framework to assess potential risks to our investments.
For example, under the “social” framework, there is tremendous value in an investor’s ability to verify a company’s data security, as breaches can cause litigation, loss of customer loyalty, and other impacts to profitability.
This kind of information is critical to fulfilling the CalPERS mission of achieving a high rate of return to provide retirement and health benefits to our more than 2 million members and beneficiaries.
Take a closer look at what else is included under the ESG label.
(Excerpt) Read more at news.calpers.ca.gov ...
From 2 years ago...
https://gop.com/blog/californias-state-pension-invests-millions-in-chinese-state-owned-companies/
https://www.buyoutsinsider.com/calpers-pe-chief-to-leave-as-system-ramps-up-exposure/
https://www.institutionalinvestor.com/article/b1wwdx3nvql07w/CalPERS-Finds-Its-New-CIO
CalPERS has not and will never have a high rate of return. Taxpayers will have to bail out pensioners. You can take that to the bank.
Three years ago I would’ve said since I was born here I’ll die here. The way things are going I’ll be out of here by the end of next year.
"For example, under the “social” framework, there is tremendous value in an investor’s ability to verify a company’s data security, as breaches can cause litigation, loss of customer loyalty, and other impacts to profitability."Data security is a critical issue, no doubt. But to identify it as your #1 example of a "social score" in ESG in the introduction is just ludicrous. If you ranked all the "social" scores in ESG, you would probably find data security dead last.
They stuck it up there in the intro to make people believe ESG is good.
I still think ESG is just another way to direct more money at progressive politicians etc investments.
Can’t have insider trading but they can try to force outsider investments.
ESG will just cause CalPers to go belly up sooner. But don’t worry pensioners on CalPers, the Feds will bail you out.
Estrogen Stupidity Gullibility
IIRC there was a time, I think in the 90s, when CalPers had a rate of return around 30%. I seem to recall member agencies were given a contribution holiday, which made no sense to me. If I were contributing $100 a month to a retirement account and it started getting returns of 20% to 30% I’d start contributing as much as I could.
You all know how this is going to end, right? CA public retirement programs are going to go bust when their ESG crap chases a lot of investors away and they will be begging the US taxpayers to bail them out.
I wish I knew of a way to capitalize on the delusional “socially responsible” and ESG investment strategies of “woke” liberals, backward progressives and dumb-ass democrats. However, it would have to be legal.
ESG will make things worse.
CalPERS’ funded status falls 11 percentage points to 71%
https://www.pionline.com/pension-funds/calpers-funded-status-falls-11-percentage-points-71
CalPERS CIO: Pension fund missed out on some private equity returns in past 10 years
https://www.pionline.com/pension-funds/calpers-cio-pension-fund-missed-out-some-private-equity-returns-past-10-years
Thank you for your post. I am going to send the info to CalPERS. I am sure they will ignore it, but at least they will be aware not everybody falls for their BS.
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