CalPERS calls on Exxon and Chevron to disclose financial risks of climate change – LA Times

The California Public Employees’ Retirement System is joining a growing number of investors calling on Exxon Mobil Corp. and others to disclose the financial risks of climate change and climate change policies.Shareholders of Exxon Mobil, Chevron Corp. and seven other energy companies will soon gather for annual meetings where votes will be cast on climate risk disclosure. The proposals ask the companies to evaluate and disclose the potential financial fallout of recent international commitments to hold the planet’s rise in average temperatures below 2 degrees Celsius.This limit was set at last year’s climate summit in Paris, where almost 200 nations committed to slowing warming of the Earth’s atmosphere.NEWSLETTER: Get the day’s top headlines from Times Editor Davan Maharaj >>CalPERS and 31 investors, including New York City’s pension funds and BNP Paribas Investment Partners, want to know how much of the companies’ petroleum reserves must stay in the ground to meet greenhouse gas emission limits.

Source: CalPERS calls on Exxon and Chevron to disclose financial risks of climate change – LA Times

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