Calstrs delays climate report due to errors, concerns over net zero disclosures arise

One of the world’s largest pension plans, Calstrs, has announced a delay in the publication of its 2023 climate report after uncovering inaccuracies in its carbon footprint calculations. The California public pension plan, managing a portfolio worth $331 billion, disclosed significant data and calculation issues, prompting the postponement of its emission data release until 2025.

Calstrs’ struggles in accurately estimating its carbon footprint have prompted concerns regarding similar disclosures by other large asset owners. The pension plan’s methodology, widely adopted globally, faced challenges due to incompatible and mismatched data sources, leading to inaccurate results.