"The debate started when the American Council for Capital Formation published a sharply written report alleging that, as the group puts it, ’CalPERS has prioritized relatively poor performing environmental, social and governance [ESG] investments at the expense of other investments more likely to optimize returns.’"

[COMMENTARY] This is an interesting debate–but I believe CalPERS is right to be ESG focused and they make a good argument for that.
CalPERS′ Ongoing Push Into ESG Drives a Healthy Debate, by John Manganaro, December 21, 2017, PLANSPONSOR, USA.