Launched in April 2006, The Principles for Responsible Investment (PRI) provides the framework for investors to give appropriate consideration to environment, social and corporate governance (ESG) issues. The PRI was an initiative of the UN Secretary-General and coordinated by UNEP Finance Initiative and the UN Global Compact. An international working group of 20 institutional investors was supported by a 70-person multi-stakeholder group of experts from the investment industry, intergovernmental and governmental organizations, civil society and academia. CalPERS is one of the original signatories.

The Principles

1. We will incorporate ESG issues into investment analysis and decision-making processes.
   
   
2. We will be active owners and incorporate ESG issues into our ownership policies and practices.
   
   
3. We will seek appropriate disclosure on ESG issues by the entities in which we invest.
   
   
4. We will promote acceptance and implementation of the Principles within the investment industry.
   
   
5. We will work together to enhance our effectiveness in implementing the Principles.
   
   
6. We will each report on our activities and progress towards implementing the Principles.
   

In signing the Principles, we as investors publicly commit to adopt and implement them, where consistent with our fiduciary responsibilities. We also commit to evaluate the effectiveness and improve the content of the Principles over time. We believe this will improve our ability to meet commitments to beneficiaries as well as better align our investment activities with the broader interests of society.

We encourage other investors to adopt the Principles.

Additional information can be found at www.unpri.org.