Why Your Pension Fund Is Going Green Against Its Will

Episode 21 of Climate Economics with Fexingo. Lucas and Luna dive into the quiet revolution in institutional investing: how pension funds and endowments are being forced to price climate risk into their portfolios—not because they want to save the planet, but because the math now demands it. Lucas unpacks the story of the California Public Employees' Retirement System, CalPERS, which lost an estimated one point two billion dollars over the past five years on fossil fuel holdings that underperformed the broader market. They discuss the rise of 'climate-aware' index funds, the role of asset managers like BlackRock and Vanguard, and why the biggest carbon price may not come from governments but from the cost of capital itself. Luna questions whether this is genuine change or just greenwashing in a spreadsheet. The episode closes with a reflection on whether fiduciary duty has become climate policy's most powerful enforcement mechanism. #CalPERS #PensionFunds #ClimateRisk #FiduciaryDuty #ESG #InstitutionalInvesting #BlackRock #Vanguard #CarbonPricing #CostOfCapital #GreenFinance #ClimateEconomics #Economics #FexingoBusiness #BusinessPodcast #ClimateAction #SustainableInvesting #PressureFromWithin Keep every episode free: buymeacoffee.com/fexingo