Posts Tagged ‘CalPERS’

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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$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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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…

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CalPERS' tobacco debate crystallizes sustainable investment dilemma

Following three months of troubled debate, the CalPERS Board of Administration (acting as the fund’s Investment Committee), will decide at its May 16 meeting whether to put to bed the possibility of reinvesting in tobacco after 16 years of divestment. In spite of restrictions on advertising and a decline in smoking in the U.S., the big tobacco firms’ international…

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