CalPERS appoints managing investment director for sustainable investments

California Public Employees' Retirement System (CalPERS) has appointed Peter Cashion as managing investment director (MID) for sustainable investments.

Cashion will be responsible for leading all aspects of the fund’s efforts to develop and implement an economics-based ESG research and data framework to support ESG integration into the investment decision-making process. The CalPERS sustainable investing program works closely with each asset class to manage investment risks and uncover investment opportunities through the sustainable investment lens.

Cashion brings nearly three decades of investment experience to the role at CalPERS. He joins the pension fund from the World Bank’s International Finance Corp. (IFC), where he serves as global head of climate finance and CIO in the financial institutions group (FIG). At IFC, he led the delivery of $3.7 billion in annual climate investment in financial institutions, which represented 34 percent of FIG’s investment vo