By Eliyahu Kamisher | Bloomberg
The US’s largest pension fund has classified more than $3 billion of holdings in oil drillers, coal miners, and other major greenhouse gas producers as climate-friendly investments, according to a new analysis of public records.
Stakes in Saudi Aramco, Chevron Corp. and Chinese coal company Inner Mongolia Dian Tou Energy are among the holdings that California Public Employees’ Retirement System labeled as “climate solutions.”
RELATED: More than 7,000 gallons of hydrocarbon materials were released in Martinez refinery blaze
The findings are part of a report from California Common Good, a coalition of environmental advocates and public sector unions. The group, which has called for Calpers to divest its climate solutions portfolio holdings of major oil and gas companies, is staging protests Tuesday at Chevron’s Richmond refinery and in the burn zone of the Eaton fire near Los Angeles.
