California Public Employees Retirement System
The California Public Employees Retirement System (CalPERS), headquartered in the United States, is a leading public pension fund that serves over 1.9 million members. Established in 1932, CalPERS has become a cornerstone of the public sector retirement landscape, primarily operating in California but also influencing national pension policies.
As a key player in the financial services industry, CalPERS manages a diverse portfolio of investments, focusing on sustainable and responsible investment strategies. Its unique approach to pension fund management, emphasising long-term growth and risk mitigation, sets it apart from other retirement systems.
With a market position as one of the largest pension funds in the world, CalPERS has achieved notable milestones, including significant advancements in environmental, social, and governance (ESG) investing. This commitment to responsible stewardship continues to enhance its reputation and impact within the public sector.
-1 vs industry average
California Public Employees Retirement System’s score of 36 is higher than 56% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Insurance Services is among the least carbon-intensive industries
Industry performance
The Insurance Services industry has reduced its overall emissions by 7% since 2019
Emissions trajectory 2020 – 2028
Reported emissions
Scope 3 accounts for ••• of total emissions.
California Public Employees Retirement System's reported carbon emissions
In 2025, the California Public Employees Retirement System (CalPERS) reported total carbon emissions of approximately 19.7 billion kg CO2e from Scope 3 investments and about 59.4 billion kg CO2e from downstream transportation and distribution. The combined emissions from Scope 1 and 2 were approximately 8.96 billion kg CO2e. This data highlights CalPERS' significant carbon footprint, particularly in its investment portfolio. For the year 2023, CalPERS disclosed total emissions of approximately 1.06 billion kg CO2e, which included about 44.2 million kg CO2e from Scope 1, 205.2 million kg CO2e from Scope 2, and approximately 808.3 million kg CO2e from Scope 3 emissions. This indicates a proactive approach to emissions reporting across all scopes. CalPERS has set ambitious climate commitments, aiming for net-zero direct greenhouse gas emissions and net-zero criteria air pollution in construction by 2035. These targets are part of their long-term strategy to enhance sustainability, particularly through the development of high-speed rail systems, which are expected to contribute significantly to emissions reductions in the transportation sector. Overall, CalPERS is actively working towards reducing its carbon emissions and aligning its investment strategies with climate goals, reflecting a commitment to sustainability and responsible investment practices.
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California Public Employees Retirement System’s Climate Goals (2030 & 2050)
3 goals2030
We will design high-speed rail stations to function as high-…
We will design high-speed rail stations to function as high-performance buildings that provide low-cost operations by maximizing efficiency.
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
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Scope 3 top emissions categories
2 of 15 categories disclosedSee all scope 3 categories
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Emissions comparison with industry peers
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California Public Employees Retirement System
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