CalPERS staff reviewed its total fund portfolio exposure to DAPL and conducted the following activities around DAPL.
• Engaged the pipeline operator known as Energy Transfer Partners (ETP) including its investors.
• Engaged the banks financing DAPL and helped develop an Investor Statement to banks financing DAPL.
• Convened a multi-stakeholder briefing with the leadership of the Standing Rock Sioux Tribe to engage with the banks and shareowners.
• Supported shareowner proposals requesting Indigenous Peoples’ rights policies and a report on environmental and social risk due diligence processes.
• Engaged with labor unions regarding human capital concerns.
• Engaged the Equator Principles Association, an organization that provides banks with best practice guidelines for environmental and social risks in project finance.