California Public Employees Retirement System (CalPERS), the largest American public pension fund, recently saw a shift in their board, as discussed in this podcast by ImpactAlpha. Outgoing environmental and social investing champion Priya Mathur’s board position was filled by Jason Perez, who has spoken against the practice, depicting it as a risk for the retirement security of the group’s investors. Such opinions underscore the need for innovation within the impact investing industry, focusing on infrastructure to scale and successfully repeat investments, to both improve the industry itself and attract more players.

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