Calpers Rejects Plea to Divest From Carmakers Over Emissions

The California Public Employees’ Retirement System opposes plans by the Trump administration to relax vehicle emissions standards. But don’t expect Calpers to exert its muscle by dumping shares of car makers.

The nation’s largest pension system has rejected a call to divest from vehicle manufacturers that follow the president’s agenda to roll back fuel efficiency standards, according to an April 20 letter. The dismissal was in response to a divestment plea from California Representative Mark DeSaulnier earlier this month. Instead, Calpers plans to “actively call on our portfolio companies to adopt better standards,” according to the letter by Marcie Frost, the fund’s chief executive officer.