CALPERS MAY LOOK FOR AUTOMAKER CONFLICTS OF INTEREST IN GHG DISPUTE

The California Public Employees' Retirement System (CalPERS) is threatening to probe major auto company directors for potential conflicts of interest if the companies do not sufficiently respond to their questions about the industry's lawsuit against the state air board's greenhouse gas (GHG) regulation. The pension fund board may also seek the inclusion of other major investor groups against the auto companies, pursue "proxy battles," and file an amicus brief defending the state in the lawsuit. CalPERS' investment committee agreed earlier...