Major U.S. pension fund CalPERS is seeking a meeting with rail operator Norfolk Southern in which it plans to ask about the derailment of a train loaded with toxic chemicals earlier this month, a door said on Tuesday. -word of the fund.
The US government has ordered Norfolk Southern to clean up contaminated soil and water at the site in East Palestine, Ohio, where the train crash sent clouds of smoke over the city on February 3 and has forced thousands of residents to evacuate.
CalPERS, which stands for California Public Employees Retirement System, held $200.6 million in Norfolk Southern debt and stock at the end of 2022, a CalPERS spokeswoman said.
“We are in the process of requesting a meeting with Norfolk Southern,” she said. “We will ask about the recent derailment.”
Discussions between the fund and the companies are generally confidential, but CalPERS will let its members know “if anything relevant comes out of this discussion,” the spokeswoman added.
Norfolk Southern did not immediately respond to a request for comment. She said she was responsible for paying for the cleanup and planned to learn from the accident and improve rail safety.
CalPERS has a total market value of approximately $454.25 billion.
