April 13, 2016 / 4:45 PM / 3 years ago

CalPERS seeks support to make Noble Energy report on climate change

(Reuters) - CalPERS, the largest public U.S. pension fund and a Noble Energy Inc shareholder, urged fellow stakeholders in the company to support a proposal requiring the oil and gas company to report risks associated with climate change.

CalPERS, or California Public Employees Retirement System, on Wednesday asked other Noble investors to vote at a shareholder meeting on April 26 in favor of making the company publish a climate change report annually.

The pension fund manager has pushed for environmental and social governance measures at other energy companies in which it is invested, including Exxon Mobil.

CalPERS owns a 0.24 percent stake in Noble Energy, according to Thomson Reuters data.

Ceres, a nonprofit group that tracks environmental records of public companies, in 2013 launched an initiative with a group of 75 investors including CalPERS requesting Noble and other companies to review and report climate change risk.

Institutions managing $6 trillion in assets plan to back a call for ExxonMobil to disclose the impact of climate change policy on its business, one of the organizers of the vote said on Tuesday.

Azzad Asset Management, investment advisor to the Azzad Funds, on Wednesday supported calls seeking an investigation into whether Exxon intentionally misled the public and its shareholders about the risks of climate change.

Reporting by Swetha Gopinath in Bengaluru; Editing by Savio D'Souza

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