Member Jacob Hupart was interviewed by Bloomberg Law about a California bill that would end California Public Employees’ Retirement System's (CalPERS') and the California State Teachers Retirement System's investments in oil and gas companies. Jacob commented, "The political buzz that ESG measures generate often overshadows the actual impact. The California measure has a long implementation period, and pension board members could decide to keep some fossil investments for the sake of financial solvency." He continued, "The ultimate impact of the law may not be quite as potent as the press statements issued by some politicians may suggest". 

Source

Bloomberg Law