Investors in Action
The Pennsylvania Treasurer’s Office expects that the anticipated sale of its $25 million portfolio of residential energy efficiency loans will serve as a prototype for national efforts to take such loans to scale on the secondary market. That means that one day, large numbers of private investors will be able to reap the investment rewards of supporting loan programs that benefit homeowners making energy efficiency improvements.
CalPERS joined forces with Ceres and other investors to draft a major petition in 2007 urging the SEC to issue guidance requiring disclosure of climate change risks in corporate filings. As a leading force for improved disclosure, Ceres’ work had already resulted in routine sustainability reporting, but mandatory guidance was needed to make corporate disclosure useful to investors.