California Pension Fund Labels Chevron and Saudi Aramco as Climate Investments

The US's largest pension fund has classified more than $3 billion of holdings in oil drillers, coal miners, and other major greenhouse gas producers as climate-friendly investments, according to a new analysis of public records. From a report: Stakes in Saudi Aramco, Chevron Corp. and Chinese coal company Inner Mongolia Dian Tou Energy are among the holdings that California Public Employees' Retirement System labeled as "climate solutions." The findings are part of a report from California Common Good, a coalition of environmental advocates and public sector unions. The group, which has called for Calpers to divest from major oil and gas companies, is staging protests Tuesday at Chevron's San Francisco Bay Area refinery and in the burn zone of the Eaton fire near Los Angeles.

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