Standard & Poor’s and Moody’s Investors Service Inc. lost a bid to overturn a judge’s ruling that they must face a California Public Employees Retirement System lawsuit over ratings on investments that led to $800 million in losses.
Moody’s Investors Service Inc. says the California Public Employees Retirement System can’t blame it for almost $800 million in losses on top-rated investments that later collapsed because its assessments are opinions and not guarantees or facts.
Responsible Investor — ExxonMobil, one of the oil companies whose stance on climate change disclosure has been under scrutiny from investors, has revealed that it expects the implied cost of CO2 emissions to reach $80 per metric ton [tonne] in 2040 in developed economies.
The California Public Employees Retirement System, the largest U.S. public pension, agreed to take a stake in an underwater power cable between New York and New Jersey, its second infrastructure investment.
The California Public Employees Retirement System, the largest public pension plan in the U.S., will reduce its holdings in corporate bonds by 4.1 percentage points, moving the money into cash, inflation-linked bonds and infrastructure.
The California Public Employees Retirement System replaced LaSalle Investment Management as manager of $1.96 billion of its industrial real estate, handing the work over to GI Partners LLC and RREEF Investment GmbH.
California Public Employees Retirement System, the largest public pension in the U.S., plans to invest $500 million in companies working on curbing greenhouse-gas emissions and improving the environment.
California Public Employees' Retirement System Photos