May 20 - McClatchy-Tribune Regional News - Jon Ortiz The Sacramento Bee, Calif.

California's two leading public pension funds and two of its top finance officials Tuesday morning urged the U.S. Senate to pass legislation to cut greenhouse gas emissions.

The California Public Employees' Retirement System, the California State Teachers' Retirement System, state Controller John Chiang, state Treasurer Bill Lockyer and another 48 government and financial leaders from across the country also urged that the government require publicly-traded companies disclose climate change risks and opportunities as part of their financial reporting.

The group, which collectively manages $2.3 trillion in assets, issued a letter to Senate leaders. It calls for a national climate policy to cut the nation's greenhouse gas emissions over the next 40 years to as little as 5 percent of 1990's levels.

The Senate next month will debate a bill that sets similar emissions reduction goals.

Ceres, a coalition of business and environmental organizations, and the Investor Network on Climate Risk, an investment firm alliance, organized the letter's signatories.