Pensions
CalPERS Rejects Reinvesting in Tobacco Again
Pension plan’s investment committee votes down a second attempt from member Jason Perez to reverse its 20-year-old ban.
Pension plan’s investment committee votes down a second attempt from member Jason Perez to reverse its 20-year-old ban.
The policy has the support of the majority of board members but others argue the vague language can be used against board members who dissent.
Jason Perez is also skeptical about ESG investing, a focus that most individuals on the CalPERS board support.
Priya Mathur, an advocate for CalPERS ESG programs, will be replaced by California police officer Jason Perez.