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California Public Employees' Retirement System CalPERS

PRI reporting framework 2019

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Overview

LEA 01. Description of approach to engagement

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate whether your organisation has an active ownership policy.

01.2. Attach or provide a URL to your active ownership policy.

01.3. Indicate what your active engagement policy covers:

General approach to active ownership

Engagement

Voting

01.4. Do you outsource any of your active ownership activities to service providers?

01.6. Additional information [optional]

As outlined in the Governance and Sustainability Principles, CalPERS has a long history of constructively engaging companies confidentially through in-person meetings, correspondence, and by telephone. In instances where companies fail to meet the standards of conduct defined by our Principles, CalPERS regularly files shareowner proposals and runs proxy solicitations to achieve governance reforms. 

CalPERS prefers constructive engagement to divesting as a means of affecting the conduct of the entities in which we invest. This is because investors that divest lose their ability as shareowners to positively influence the company’s strategy and governance. 


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