INCLUDING: US - Risk filings proposed; US - Benefit of CalPERS to economy
US – Risk filings proposed
The Sacramento Bee reported that state officials, joined by California’s two public employees’ pension funds, have petitioned the Securities and Exchange Commission to require publicly held companies to disclose their potential financial risks from global warming.
The publication said the petition included signatures from the California Public Employees’ Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalSTRS).
US – Benefit of CalPERS to economy
The Los Angeles Times reported that a study has found that the California Public Employees’ Retirement System (CalPERS) spurred US$15.1bn in economic activity in California in 2006, creating more than 124,000 jobs.
The newspaper added that CalPERS directly invested $8.3bn in the state economy in 2006.
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point