Posts by Sandy Emerson

Ask California to Investigate Exxon

For many months, the attorneys general of New York and Massachusetts have been investigating Exxon’s decades of deception — misleading shareholders and the public about what the company’s own scientists knew about threats posed by climate change. Climate activists have launched a national campaign to urge California Attorney General Xavier Becerra to join them, and…

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CalPERS Calls for More Discussion of AB20, DAPL Divestment

In a surprise development, the CalPERS Investment Committee called for more discussion of AB20 and DAPL divestment. Although the committee did not vote on the issue, member Theresa Taylor, the elected representative of state members and a veteran leader of SEIU Local 1000, expressed her personal opposition to the pipeline project.

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CalSTRS Discusses Materiality of ESG Risk Factors

CalSTRS Investment Subcommittee’s recent discussions of ESG risk factors concerned the materiality of ESG risk factors – whether, and at what threshold, environmental, social, and governance factors materially affect the economic and financial value of an investment.

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City Pension Divestment Campaign in Seattle

Smoggy Seattle Skyline

350Seattle and NorthwestDivest.org are reviving a city pension divestment campaign aimed at the Seattle City Employees Retirement System (SCERS).

Stating that “more than ever we need people of conscience to put their money where their values are” the group asserts that a “green leader” like the City of Seattle should not continue to invest in fossil fuels.

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$5.2 Trillion Reasons to be Hopeful

The global divestment movement is now $5.2 trillion strong in pledged assets, with 688 institutions and 58,399 individuals in 76 countries committed to divest from fossil fuel companies. The value of assets under management by those pledged to divest has doubled in the last 15 months.  As the recent report from Arabella Advisors notes, “pension…

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CalPERS & CalSTRS: Show Us the Money

Fossil Free California is raising funds to help everyone understand where California’s huge pension funds are investing our money. On December 19 the CalPERS Board voted, at last, to divest their last $557 million in tobacco stocks.  Public health advocates – and CalPERS board members – learned only recently that when the huge fund “divested”…

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CalPERS Votes to Expand Divestment from Tobacco

UPDATE, 12/19: Success!  On a motion by State Controller Betty Yee with a second by Priya Mathur, the CalPERS Investment Committee voted 9–3 to expand divestment from tobacco. CalPERS will continue the current tobacco divestment, and it has directed staff to expand the divestment to externally managed funds and to the Affiliate Fund portfolios.  The…

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