CalPERS CIO Ben Meng Abruptly Resigns

CalPERS Chief Investment Officer (CIO), Ben Meng resigned unexpectedly on August 5, 2020, after only a year and a half on the job. He left just three days after the blog Naked Capitalism revealed potential conflicts of interest and other problems in forms (Form 700) he submitted in January 2019 and April of this year regarding his own investments.

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Private Prison Debate Reveals CalPERS’ Anti-Divestment Bias

After our 19 pro-divestment speakers presented brief, cogent, arguments at the March 18 CalPERS Investment Committee meeting in response to an update on Sustainable Investments from Managing Investment Director Beth Richtman, Dane Hutchings from the League of California Cities asserted that CalPERS should be laser-focused on returns and not invest in “rainbows and unicorns”. Chris…

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CalPERS Watch: Sacramento, March 18

Fossil Fuel Investments Take a Dive     In 2018, energy was the worst-performing sector on the SP500 stock index, losing almost 20 percent of its value. CalPERS has significant money invested in fossil fuels and has not revealed its losses, but the numbers don’t lie.  By failing to divest from fossil fuels, the fund clearly…

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CalPERS Explores Sustainable Development Goals

CalPERS devoted much of Day One of their recent offsite in Concord to presentations on sustainable investing, a topic of obvious interest to the Board…although the consequences of that interest don’t seem to have been reflected in actual investment decisions.

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