IPD and its parent company MSCI have launched the IPD Global Infrastructure Direct Asset Index. According to a statement, the index describes the investment performance of infrastructure investments irrespective of the investment vehicle structure in which those investments are held.

The California Public Employees’ Retirement System is planning to grow its infrastructure portfolio by $5 billion in the next three years, increasing the program from $1.8 billion to $6.7 billion by fiscal year 2016-17.

Many institutional investors have had cold feet when it comes to renewable energy investment. As fiduciaries, the biggest question they have about renewable energy assets is whether they can deliver strong risk-adjusted returns that are stable and long term — returns that, like most energy investments, can depend on the speed of advancing technologies and on energy policies that can be reworked and repealed each election cycle.