Net Zero Transition > Industrial Decarbonisation > Largest US pension fund under fire for labelling oil, coal holdings as “climate” investments

Largest US pension fund under fire for labelling oil, coal holdings as “climate” investments

Published 20:56 on March 11, 2025 / Last updated at 20:56 on March 11, 2025 / Americas (US & Canada), Net Zero Transition (Industrial Decarbonisation), Voluntary (VCM Governance)

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The California Public Employees' Retirement System (CalPERS), the largest public pension fund in the US, has come under scrutiny after an analysis revealed it had classified more than $3 billion in investments in oil drillers, coal companies, and other major emitters as part of its “climate solutions” portfolio.
The California Public Employees' Retirement System (CalPERS), the largest public pension fund in the US, has come under scrutiny after an analysis revealed it had classified more than $3 billion in investments in oil drillers, coal companies, and other major emitters as part of its “climate solutions” portfolio.


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