CalPERS learns social responsibility can be a drag: Reuters Breakingviews
CalPERS is learning that social responsibility can be a drag. The $290 billion California pension manager may reinvest in tobacco stocks after a report found that exiting the sector cost it $3 billion of potential investment gains over 15 years. There’s more to the idea than higher returns, though. Engaging financially with controversial firms can be a better way to effect change, Reuters Breakingviews said.
6 April 2016•2 mins read
