The nation’s largest pension fund is planning to vote for a proposal that would unseat Warren Buffett as chairman of Berkshire Hathaway Inc. The $470 billion California Public Employees’ Retirement System, known as Calpers, said in a regulatory filing that it would support a proposal by the National Legal and Policy Center that Berkshire Hathaway’s board chair…
Tag: CalPERS
Huge investor coalition urges governments to accelerate climate action | Corporate Secretary
A huge investor coalition has called on national governments to accelerate policy changes that will support investment in climate change solutions. A group of 587 investment firms with a collective $46 trillion in assets under management yesterday issued a statement urging governments to take a range of actions, from strengthening emissions targets to mandating climate…
Calpers Takes Aim at CEO Pay and Questions Shareholder Behavior – Bloomberg
Many chief executive officers at U.S. companies are paid too much — and investors aren’t holding corporate boards accountable, a senior official at the country’s largest public pension fund said. The too-generous compensation happens despite talk that executive pay is linked to performance, said Simiso Nzima, head of corporate governance at the $389-billion California Public…
CalPERS: 5-Year Horizon for Pay Plan Reviews and No Votes on Comp Committee Members in Extreme Cases
CalPERS, which cast “against” votes at 43 percent of its portfolio companies in its Say-on-Pay voting during the 2018 proxy season and against 53 percent in 2019, is continuing to adjust its methodology for evaluating pay plans. CalPERS Adopts New Say-on-Pay Methodology – JOHN ELLERMAN compensation consultants. That same year, CalPERS announced a significant change…
CalPERS Votes Against Pay at 1,195 Firms – Corporate Governance
Jim McRitchie reports on CalPERS votes against pay plans: Equilar announced, in partnership with CalPERS, the release of the CalPERS P4P Scorecard in Equilar Insight, the leading executive compensation benchmarking software solution. The release of the new scorecard is an extension of the five-year realizable pay calculation CalPERS and Equilar released earlier this year. Said…
The Test of Time: Adapting to a New Era of Executive Compensation
In 2018, CalPERS voted against 45.4% of the S&P 500 on Say on Pay, according to corporate governance nonprofit As You Sow. These results are drastically higher than in previous years, as its five-year average for opposing Say on Pay votes was 16%. According to Simiso Nzima, Investment Director of Global Equity at CalPERS, among…
CalPERS examines adopting SDGs | Top1000Funds.com
The board of CalPERS has directed staff to look into aligning its $357 billion portfolio with the UN’s sustainable development goals.The largest pension fund in the US is already one of the global leaders in engaging with companies on ESG risks, but by adopting the UN SDGs it would embrace more specific social objectives, such…
Chief Investment Officer – Small Pension, Big Punch
It may have a staff of 10—and only two of those are investors—but a small public pension in a quiet corner of the UK is officially one of the most influential environmental, social, and governance (ESG) investors in the world. The £2.7 billion ($4 billion) Environment Agency Pension Fund has ranked among some of the…
Calpers Pushes Boards to Clear Room for the Young and Ethnic – Bloomberg Politics
California’s big public pension fund has a message for corporate board members like Lee Raymond, the 77-year-old lead director at JPMorgan Chase & Co.: It’s time to retire. The $294 billion California Public Employees’ Retirement System is taking aim at older, white men on corporate boards with a proposed policy aimed at adding more women, minorities…
CalPERS joins Dutch corporate governance platform Eumedion | News | IPE
Eumedion, the Dutch corporate governance and sustainability platform for institutional investors, has welcomed the California Public Employees Retirement System (CalPERS) as its newest member. Rients Abma, Eumedion’s director, said: “As a reputable player, CalPERS will add weight to our efforts to improve corporate governance and sustainability at Dutch listed companies, as well to our influence…
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