Japan’s Government Pension Investment Fund (GPIF), the California State Teachers’ Retirement System (CalSTRS), and the U.K.’s Universities Superannuation Scheme (USS) have banded together to challenge sustainable skeptics to rethink their investment principles.
“We live in a changing world; companies and asset managers who commit to sustainable value creation are not injecting politics into business, nor are they ‘virtue signaling,’” the pension funds stated. “They are fulfilling their duty to us and, by extension, to the millions of families depending on us. We therefore urge both our partners and the companies in which we invest to rethink their strategy ….”
In a letter, the funds warned investors that focusing solely on short-term returns is no longer enough; corporations and asset managers will need to shift to a multi-decade framework. The pension funds cited research by Moody’s Analytics, stating climate change alone has the potential to des
