EXCLUSIVE: U.S. Rep. Kiley launches CalPERS ESG probe after The Center Square investigation

(The Center Square) – In an exclusive interview with The Center Square, Congressman Kevin Kiley, R-Calif., questioned California state retirement fund objectives, saying they have an “entirely different agenda” that appears to potentially breach fiduciary duties — and puts retirees’ futures at risk in favor of progressive political objectives.

The interview came days after Kiley and two other congressmen announced a probe of CalPERS’ ESG practices in response to an investigation by The Center Square that revealed CalPERS lost 71% of its $468 million investment into its Clean Energy and Technology Fund.

“What we seem to be seeing is an entirely different agenda driving some of those decisions, potentially in violation of the law and to the detriment of Californians,” said Kiley, who chairs the Early Childhood, Elementary, and Secondary Ed...