California’s Public Pension Divestment Bill – SB 252 – Confirmed through Senate Appropriations, Now Heads to Senate Floor

Photo of a large group of people gathered to lobby for the Climate Accountability bill package. They are under large trees on the Sacramento Capitol grounds and hold a sign that reads, "Divest California's Public Pensions." Photo by Brooke Anderson.

It’s the “climate bill that could:” SB 252’s tremendous momentum demonstrates that California, the world’s sixth largest economy, is prepared to lead on climate and fiduciary responsibility, taking the helm of the financial industry’s shift toward fiscally responsible investing. FOR IMMEDIATE RELEASEMay 18, 2023Contact: Shana DeClercq | shana@fossilfreeca.org | (415) 376-3746Photos available here | Banner…

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What Does Divestment Cost? Misinformation from CalPERS and CalSTRS

The “fiscal impact” analysis for the Appropriations Committee in the state Senate or Assembly can make or break a bill. For divestment bills, CalPERS and CalSTRS have repeatedly given imprecise, incorrect, and inflated figures on the costs of divestment, including in the numbers reported to the Appropriations Committee for SB 1173, the Fossil Fuel Divestment Bill.

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State Senate passes SB 185 to divest coal

Today the California State Senate made history, passing SB 185 by a large margin, 22–14. The bill calls for the nation’s two largest state pension funds, the California Public Employees’ Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalSTRS), to divest from thermal coal. The bill now moves to the California State Assembly. Senate President pro Tempore…

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Senate to vote on SB 185 coal divestment

by Janet Cox The bill in the California State Senate requiring CalPERS and CalSTRS to divest from coal companies, SB 185, along with the other bills in this year’s climate package, will be voted on by the full Senate on Wednesday morning, June 3, most likely between 10 am and noon. This will be the…

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Senate committee bans coal investment

by Janet Cox On April 13, the California State Senate Public Employment and Retirement Committee approved SB 185, the Public Divestiture of Thermal Coal Companies Act, 3–2 on a party line vote. The bill, sponsored by Senate President pro Tempore Kevin de León, requires the state’s two largest public pension funds to divest from companies…

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Divest! Start with coal!

by Janet Cox Help us strip dirty coal money from California pension funds. Help us pass Senate Bill 185! Kevin de León, President pro Tem of the California State Senate, has offered the divestment movement a tremendous gift. With SB 185, he has proposed a law that could become the first divestment legislation passed by…

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