SACRAMENTO, Calif. – The California Public Employees’ Retirement System today announced that Beth Richtman has been selected as Managing Investment Director of the Sustainable Investment Program.
Richtman, currently an investment manager in the CalPERS Real Assets program, will be transitioning into the new position over the next month.
A new position at CalPERS, the Managing Investment Director of the Sustainable Investment Program leads the team that provides centralized leadership and strategy related to environmental, social and governance (ESG) issues for the entire CalPERS Investment Office. Richtman will manage the integration of ESG factors into investment decision-making across the total fund, and will oversee collaboration efforts with external partners, including other investors, related to corporate engagement efforts.
“Beth’s diverse background, exceptional quantitative skills, and practical experience with sustainable investing make her a perfect fit to serve as the Investment Office’s leader for sustainability and ESG,” said Ted Eliopoulos, CalPERS chief investment officer. “She also understands how sustainable investing mitigates risk and improves long-term returns. I’m excited for her to get started and welcome her to the senior management team.”
Richtman has more than a decade of experience with sustainability and sustainable investing. She started with the CalPERS Investment Office in 2012, and has been responsible for managing a portfolio of more than $7 billion of domestic infrastructure and real estate assets. She was a key architect of the Sustainable Investment Practice Guidelines for Real Assets, and the lead for the Energy Optimization Initiative, which seeks to economically optimize energy use and sourcing across the CalPERS Real Estate portfolio.
Prior to her work at CalPERS, Richtman was a Director for Business Development at Enel Green Power North America, a leading owner and operator of renewable energy plants in North America.
Richtman holds a Bachelor of Science degree from Stanford University, and a Master of Business Administration degree from Columbia University.
For more than eight decades, CalPERS has built retirement and health security for state, school, and public agency members who invest their lifework in public service. Our pension fund serves more than 1.9 million members in the CalPERS retirement system and administers benefits for more than 1.4 million members and their families in our health program, making us the largest defined-benefit public pension in the U.S. CalPERS’ total fund market value currently stands at approximately $348 billion. For more information, visit www.calpers.ca.gov.