Alignment of Interests

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Review of ESG Strategy – Alignment of Interest Investment Beliefs Agenda Item 8a, Attachment 1, Page 10 of 42 Investment Belief 9 Risk to CalPERS is multi-faceted and not fully captured through measures such as volatility or tracking error. • CalPERS shall develop a broad set of investment and actuarial risk measures and clear processes for managing risk. • As a long-term investor, CalPERS must consider risk factors, for example climate change and natural resource availability that emerge slowly over long time periods, but could have a material impact on company or portfolio returns. Investment Belief 10 Strong processes and teamwork and deep resources are needed to achieve CalPERS goals and objectives. • Diversity of talent (including a broad range of education, experience, perspectives and skills) at all levels (Board, staff, external managers, corporate boards) is important. 10
Review of ESG Strategy – Alignment of Interest Current Strategy on ESG Agenda Item 8a, Attachment 1, Page 11 of 42 • Environmental Climate Risk • Social Human Capital • Governance Alignment of Interest Our approach utilizes three channels supported by partnerships Engagement Integration Advocacy Partnerships 11
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Alignment of Interests

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