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NEW YORK (Reuters) – Major U.S. pension fund CalPERS is seeking a meeting with rail operator Norfolk Southern (NYSE:NSC) at which it plans to ask about the derailment of a train loaded with toxic chemicals earlier this month, a spokeswoman for the fund said on Tuesday.
The U.S. government has ordered Norfolk Southern to clean up contaminated soil and water at the site in East Palestine, Ohio, where the train wreck sent clouds of smoke over the town on Feb. 3 and forced thousands of residents to evacuate.
CalPERS, which stands for the California Public Employees’ Retirement System, held $200.6 million worth of Norfolk Southern debt and equity as of the end of 2022, a CalPERS spokeswoman said.
“We are in the process of requesting a meeting with Norfolk Southern,” she said. “We’ll be asking about the recent derailment.”
Talks between the fund and companies are usually confidential, but CalPERS will update its membership “if anything pertinent comes from this discussion,” the spokeswoman added.
Norfolk Southern did not immediately respond to a request for comment. It has said it is responsible for paying for the clean-up and plans to learn from the accident and improve rail safety.
CalPERS has a total market value of around $454.25 billion.
