Posts Tagged ‘CalPERS’

SB 560 Passed by Key CA Senate Committee

After weeks of negotiations, FFCA’s bill (SB 560) defining “financial climate risk”, was passed on its second hearing by the CA Senate PER Committee. The bill’s authors are now seeking co-sponsors as the bill moves toward the Appropriations Committee.

Read more

Divestment vs Engagement: One Just Doesn’t Work

In the fight to keep oil in the ground, pension funds, banks, and other organizations managing large sums are coming under pressure to keep their money away from fossil fuel corporations. But while activists call for divestment from fossil fuel companies, the pension funds and banks seem to favor “engagement” with problematic companies while remaining invested. The…

Read more

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.

Read more

$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…

Read more

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”…

Read more

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…

Read more

Tell CalPERS: No reinvestment in tobacco!

Staff of the California Public Employees’ Retirement System (CalPERS), the largest public pension fund in the country, is recommending that the fund’s Board vote in December to reinvest in tobacco, based on profits the tobacco companies have made overseas since CalPERS divested 16 years ago. Q. Why is the tobacco decision important for fossil fuel…

Read more