CalPERS Approves Plan for Environmental Technology Investment Program.News Editors/Business Editors/Environment Writers SACRAMENTO, Calif.--(BUSINESS WIRE)--March 15, 2004 The California Public Employees' Retirement System (CalPERS) today launched a new investment program that will invest up to $200 million in the burgeoning environmental technology sector during the next few years. The System's Board of Administration approved the CalPERS Environmental Technology Program that will target investments in environmental technology solutions that are more efficient and less polluting pol·lute tr.v. pol·lut·ed, pol·lut·ing, pol·lutes 1. To make unfit for or harmful to living things, especially by the addition of waste matter. See Synonyms at contaminate. 2. than existing technologies such as recycling recycling, the process of recovering and reusing waste products—from household use, manufacturing, agriculture, and business—and thereby reducing their burden on the environment. ; minimizing the use of natural resources; and reducing emissions, refuse, and contamination to air, water, and land. CalPERS hopes to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the evolving investment sector and deliver increased returns to its private equity portfolio. "While breaking new ground in the emerging environmental technology sector, we stand to enhance our strategic investment prospects," said Sean Harrigan, CalPERS Board President. "Environmental technology promises attractive long-term investment returns while doing something positive on a global scale." CalPERS Board signed off on the program after its investment staff had extensive contacts with up to 200 industry experts of public and private entities, private equity firms, government agencies, think tanks and universities. The new venture will be implemented under guidelines guidelines, n.pl a set of standards, criteria, or specifications to be used or followed in the performance of certain tasks. and policies of the Alternative Management Investment (AIM) Program, which has committed more than $19 billion to private equity investments. The AIM Program will implement the Environmental Technology Program cautiously, given current limited investment opportunities for the still-evolving market, the lack of cost competition, inexperience Inexperience See also Innocence, Naïveté. Bowes, Major Edward (1874–1946) originator and master of ceremonies of the Amateur Hour on radio. [Am. in some sectors, the need for consumer education and permits, and legal hurdles -- all resulting in increased costs. "Our plan is to focus on investors who have a proven track record and avoid overexposure overexposure too long an exposure time or too high a milliamperage causing too black a picture, loss of detail and some anomalies of translucency. to any one target area by diversifying sectors and geographical areas," said Rob Feckner, Chair of CalPERS Investment Committee. Specific "green" technologies include renewable energy Renewable energy utilizes natural resources such as sunlight, wind, tides and geothermal heat, which are naturally replenished. Renewable energy technologies range from solar power, wind power, and hydroelectricity to biomass and biofuels for transportation. resources such as wind and solar generators, hydrogen fuel cells, desalination desalination or desalting Removal of dissolved salts from seawater and from the salty waters of inland seas, highly mineralized groundwaters, and municipal wastewaters. and gray water recycling, and the development of products that use recycled and reused materials. CalPERS is the nation's largest public pension fund with assets totaling approximately $167 billion and serving more than 1.4 million public employees, retirees, and their families. For more information about CalPERS, please visit www.calpers.ca.gov. |
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