IFC HIRE: CalPERS Names Peter Cashion New Head of Sustainability Program
Posted on 01/13/2023
CalPERS has appointed Peter Cashion as managing investment director (MID) for sustainable investments. Cashion’s role will be to set the vision, strategy, and governance for CalPERS’ sustainability work and be responsible for leading all aspects of the fund’s efforts to develop and implement an economics-based ESG research and data framework to support environmental, social, and governance (ESG) integration into the investment decision-making process.
“CalPERS has been a pioneer in its advocacy of climate solutions and sustainable investing, and our focus on that work has only intensified over the years,” said CalPERS Chief Investment Officer (CIO) Nicole Musicco in press release.
Cashion has nearly three decades of investment experience and joins CalPERS from the World Bank’s International Finance Corporation (IFC), where he currently serves as global head of climate finance & chief investment officer in the Financial Institutions Group (FIG). In this capacity, he led the delivery of US$ 3.7 billion in annual climate investment in financial institutions, which represented 34% of FIG’s investment volume, and established a global strategy to accelerate a just transition to a green economy by leveraging the financial sector, mobilizing institutional investors, and developing the infrastructure to move markets to Paris Agreement alignment.
He previously served in other senior roles at IFC spanning back to 1995, including global equity head, principal investment officer, and principal financial officer.
He will begin at CalPERS in March 2022 and will report to CIO Nicole Musicco.
Keywords: California Public Employees Retirement System.