April 16, 2024

Communications & Stakeholder Relations
Office of Public Affairs
(916) 795-3991 - newsroom@calpers.ca.gov

SACRAMENTO, Calif. – CalPERS today announced that Chief Operating Investment Officer Michael Cohen has been appointed Steering Committee chair of Climate Action 100+, a global organization of investors working with the world’s largest companies to fight climate change.

Climate Action 100+ represents more than 700 institutional investors engaging companies to improve their climate change governance, cut emissions, and strengthen climate-related financial disclosures.

"Our organization played a pivotal role in creating Climate Action 100+," said CalPERS Chief Executive Officer Marcie Frost. "Michael will be a steady hand for the Steering Committee at a crucial moment, one where our fiduciary duty requires swift and substantive action on climate change to ensure long-term value for our members, their families, and their retirement security."

The Steering Committee sets overall initiative strategy and is currently chaired by François Humbert of Generali Asset Management. The role rotates every 12 months between different regional representatives on the committee.

"I am honored to be appointed chair of the Steering Committee and eager to help guide the organization through its next phase of investor engagement," said Cohen. "Climate Action 100+ was founded to ensure companies take meaningful steps to address the existential financial threats from climate change. There is still more to do to constructively engage with our corporate partners and build upon early successes."

Since its founding, Climate Action 100+ has engaged 170 companies to address climate change. Those efforts have led to three-quarters of the companies committing to achieve net zero emissions by 2050 or sooner for Scope 1 and Scope 2 emissions. Almost all the companies have board committee oversight of both climate change risks and opportunities.

CalPERS co-founded Climate Action 100+ in 2017 and served as its inaugural chair.

In addition to its integral role with Climate Action 100+, CalPERS has taken vigorous action on the climate front: supporting the SEC climate disclosure rule, holding companies accountable for climate-related risk, and developing the Sustainable Investing 2030 Plan to move its portfolio to net zero emissions.

About CalPERS

For more than nine decades, CalPERS has built retirement and health security for state, school, and public agency members who invest their lifework in public service. Our pension fund serves more than 2 million members in the CalPERS retirement system and administers benefits for more than 1.5 million members and their families in our health program, making us the largest defined-benefit public pension in the U.S. For more information, visit www.calpers.ca.gov.