Posts by Sandy Emerson

City Pension Divestment Campaign in Seattle

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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World Leaders Urge Oil and Gas Firms to Disclose Climate-Related Risks

Some of the most powerful financial experts in the world are seriously worried about climate change. The Bank of England’s Governor Mark Carney, who chairs the Financial Stability Board of the “G20” summit of the world’s richest nations, said “The challenges currently posed by climate change pale in significance compared with what might come.”

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#NoDAPL Petition on PERS/STRS Pipeline Investments

Both of California’s huge public pension funds hold significant investments in Energy Transfer Partners, the publicly traded “master limited partnership” attempting to build the Dakota Access Pipeline at Standing Rock in North Dakota. Sign our petition urging CalPERS and CalSTRS to divest now from Energy Transfer Partners. CalPERS investments total about $65 million, CalSTRS about…

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Fossil Free California Delivers Petitions to CalSTRS

At the November 16 CalSTRS Investment Committee meeting, twelve Fossil Free California representatives from Chico, Santa Rosa, Petaluma, and Berkeley delivered public comments and two petitions urging the Board to divest from fossil fuels. The first petition, urging both CalSTRS and CalPERS to divest within five years, was active for a year and a half…

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Kevin de León to Lead California Delegation at COP 22 in Morocco

Senate President pro Tempore Kevin de León (D-Los Angeles) will lead the California delegation at the United Nations 22nd Conference of Parties in Marrakech, Morocco, beginning today, November 15th. The trip is intended to assure global partners that California remains committed to reducing greenhouse gas emissions and building a clean energy future. “California is well…

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Carbon Bubble Threatens Investments

The carbon bubble threatens the investments of small investors as well as large, according to a recent article by Carol Clouse in The Guardian. When Big Oil’s unburnable reserves become stranded, these companies’ shares will experience a sudden and steep devaluation. As evidence mounts that fossil fuel companies will be required to “keep it in…

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