Study: California pension funds have lost billions on backward-looking energy investments FacebookTwitterLinkedInEmailPrint分享Chief Investment Officer:A new study shows that the two largest pension funds in the U.S.—the California Public Employees’ Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalSTRS)—as well as the Colorado Public Employees’ Retirement Association, combined missed out on $19 billion in investment returns over the last decade by investing in fossil fuel stocks.The study is the latest salvo by environmentalists in their battle to convince the large pension funds to divest their portfolios of the stocks of oil and gas companies, something the pension systems refuse to do.It found that the $380 billion CalPERS would have generated an estimated additional $11.9 billion in investment returns had the funds divested of fossil fuel stocks a decade ago. CalPERS is the largest US pension system by assets under management; CalSTRS is No. 2.The study found that the missed returns for CalSTRS were also substantial. The $238 billion system would have gained an additional $5.5 billion during the 10-year period.The third system, the $45 billion Colorado PERA, missed an estimated $1.77 billion during the 10-year period, the report found.The study highlights “that large fossil fuel companies pulled down overall performance, while technology, health care, retail, and entertainment boosted performance, the groups said.More: Green Coalition: Pension Plans Miss Billions by Not Divesting from Fossil Fuels
ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading » CUNA The Consumer Financial Protection Bureau (CFPB) should quickly finalize its proposal amending the Remittance Rule and to exercise its authority to permit compliance flexibility for remittances sent to individuals in countries affected by the growing public health concern surrounding coronavirus disease, CUNA wrote to the CFPB Thursday.“We appreciate the Bureau’s focus on appropriately tailoring the remittance rule and the rulemaking’s high priority status, as indicated by the Bureau’s already swift timeline,” the letter reads. “That said, in light of the growing global public health crisis surrounding COVID-19, CUNA respectfully recommends the Bureau further expedite the issuance of its final rule and take action to exclude from the rule’s requirements remittance transfers made to individuals in countries affected by the growing pandemic.”CUNA adds that, during times of global economic downturn, natural disaster and pandemic, remittances can be an especially important lifeline to people in developing countries to purchase food, services and medical care.
Promoted Content11 Most Immersive Game To Play On Your Table Top7 Theories About The Death Of Our UniverseWho Is The Most Powerful Woman On Earth?8 Things You Didn’t Know About Coffee7 Universities In The World With The Highest Market ValueThis Guy Photoshopped Himself Into Celeb Pics And It’s HystericalIncredible Discoveries That Puzzled The Whole WorldBest & Worst Celebrity Endorsed Games Ever Made9 Facts You Should Know Before Getting A Tattoo10 Risky Jobs Some Women DoTop 7 Best Car Manufacturers Of All Time2020 Tattoo Trends: Here’s What You’ll See This Year Zlatan Ibrahimovic has reportedly decided to continue playing and could remain in Serie A even if he can’t come to an agreement with Milan.Advertisement Milan are allegedly trying to extend with the 38-year-old, who has had a great impact on the Rossoneri since his return in January, but the newspaper reveals that the player himself is evaluating all the possibilities.Rossoneri CEO Ivan Gazidis has been cutting wages during the campaign and offloaded several players collecting big checks in January and the club made Zlatan an exception to the cost criteria. Read Also: Barcelona target Willian confirms Chelsea exitThey are yet to talk to the former Inter and Juventus star about the future but former sporting director Zvonimir Boban’s exit might have made a rift in their relationship.The report claims Ibrahimovic is embittered by what happened at Milanello, but does not exclude anything and other Italian clubs will be ready if Milan can’t put forward a fitting project for the superstar.FacebookTwitterWhatsAppEmail分享 The Gazzetta dello Sport writes that the former Sweden international doesn’t want to end his career after an unfinished season or a campaign that will be different from how we are used to. Loading…
MOST READ Nadine Lustre’s phone stolen in Brazil The Cavaliers had a 10-0 run in the third quarter after Kuzma hit a floater to pull the Lakers within 51-50 early in the period. Burks and Osman hit 3-pointers to bookend the push, and Cleveland was able to sustain the 10-point margin going into the fourth by holding Los Angeles to 8-for-26 shooting.TIP-INSCavaliers: Rodney Hood had 18 points. … Osman scored eight of the Cavaliers’ first 13 points. … The Cavaliers made 56 percent of their shots in the first quarter (14-for-25 shooting).Lakers: Los Angeles was 16 for 27 from the free-throw line. … Michael Beasley had eight of the Lakers’ 20 bench points. … The Lakers starters were a combined 28-of-66 shooting.UP NEXTADVERTISEMENT In fight vs corruption, Duterte now points to Ayala, MVP companies as ‘big fish’ Ginebra beats Meralco again to capture PBA Governors’ Cup title Tom Brady most dominant player in AFC championship history Japeth Aguilar wins 1st PBA Finals MVP award for Ginebra In fight vs corruption, Duterte now points to Ayala, MVP companies as ‘big fish’ Gretchen Barretto’s daughter Dominique graduates magna cum laude from California college Kyle Kuzma had 29 points and nine rebounds for the Lakers, who have lost two straight and five of their past seven. Brandon Ingram scored 22 points and Lonzo Ball had 13 points, eight rebounds and eight assists.Los Angeles was 7 for 34 on 3-pointers and had 11 fast-break points.FEATURED STORIESSPORTSGinebra beats Meralco again to capture PBA Governors’ Cup titleSPORTSJapeth Aguilar wins 1st PBA Finals MVP award for GinebraSPORTSGolden State Warriors sign Lee to multiyear contract, bring back ChrissBurks delivered an emphatic dunk after Ingram couldn’t handle a defensive rebound to help the Cavaliers re-establish control after Kuzma scored five straight to cut the Cavaliers’ lead to 84-79 midway though the four quarter.Sexton drove for a layup and Osman hit a floater during a quick 6-0 run, which allowed the Cavaliers to hold off another late push by the Lakers. Kuzma hit a 3-pointer with 22 seconds remaining to trim the margin to 96-93, but Burks made both free throws with 16 to play. 76ers escape Knicks Philippine Army to acquire MANPADS, self-propelled howitzers LATEST STORIES Ginebra beats Meralco again to capture PBA Governors’ Cup title Don’t miss out on the latest news and information. Cavaliers: Visit Portland on Wednesday.Lakers: Host Chicago on Tuesday.Sports Related Videospowered by AdSparcRead Next Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award Los Angeles Lakers guard Josh Hart, left, and Cleveland Cavaliers center Tristan Thompson grapple for a rebound during the first half of an NBA basketball game Sunday, Jan. 13, 2019, in Los Angeles. (AP Photo/Mark J. Terrill)LOS ANGELES — Cedi Osman scored 20 points, Collin Sexton added 17 and the Cleveland Cavaliers ended a 12-game losing streak with a 101-95 victory over the Los Angeles Lakers on Sunday night.Tristan Thompson had 15 points and 14 rebounds, and Alec Burks had 17 points and 13 rebounds as the short-handed Cavaliers split the two-game season series by forcing the Lakers into a halfcourt game.ADVERTISEMENT View comments