California Invests Public Employee Retirement Funds in Sustainable Energy… To Pitiful Results (Guest: Tim Doyle)
Will investments in sustainable energy provide a positive return? California invested public employee retirement funds to find that no, they won’t.
In this edition of the Heartland Daily Podcast, Tim Doyle from the American Council of Capital Formation discusses how Environmental and Social Governance funds have been purchased by the California Public Employee Retirement System. Doyle details how these investments have been among the worst performers in the pension fund.
Other states, such as New York, are emulating California's investment in so-called sustainable companies and have experienced similar below-market returns.