Concerns about CalPERS' inattention to these factors prompted the the California State Legislature's Joint Legislative AuditCommittee on 27 June 2000 to direct an audit of the fund's international portfolio.
The Joint Legislative AuditCommittee hearing suggests that the State of California and its public employee retirement funds may play a critical role in fashioning a template for a truly national effort to introduce new national security- and human rights-minded "due diligence" into debt and equity purchasing decisions.
Topping the bill on the committee corridor is the joint appearance, at the Environmental AuditCommittee, of the DEFRA Secretary, Caroline Spelman, and the machinery of government supremo, Oliver Letwin, to discuss the extent to which sustainability is built into government decision-making (at 1pm).