California teachers' fund to invest in clean energy projects

California teachers' fund to invest in clean energy projects

San Francisco (Platts)--3Jun2004


The California State Teachers' Retirement System, one of the largest public
pension funds in the US, has adopted a clean energy and environmental
technology investment program, board member and California Treasurer Philip
Angelides said Wednesday. The program is part of Angelides' Green Wave
initiative designed to bolster financial returns, create jobs and clean the
environment. CalSTRS said it will make an initial investment of up to $250-mil
in renewable energy and technology and join with private-sector partners to
provide equity investments, venture capital and project financing. The
initiative asks CalSTRS and the California Public Employees' Retirement
System, the nation's largest public pension fund, to commit $1.5-bil in
technologies and environmentally responsible companies. CalPERS' in March
voted to make an initial investment of up to $200-mil over the next few years
in the clean technology sector with private sector partners. CalPERS in April
said it would invest up to $500-mil in environmentally responsible companies.

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