CalPERS rebuts criticism of its $6.5bn coal holdings as “baffling”

Pension giant locks horns with NGO that says some of its coal investments could violate state law

CalPERS has $6.5bn invested in coal, millions of which potentially violates both state law and the fund’s own divestment policies, a new NGO report has alleged – a claim the largest US pension fund has dismissed as “misleading” and “baffling”.

Published this week, the report from …

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