Posts Tagged ‘CalSTRS’
FFCA First of its kind Mapping Tool: Thousands of oil wells across California are funded CalPERs and CalSTRS
Fossil Free California Unveiling new Mapping Tool FOR IMMEDIATE RELEASE Contacts: Luis Angel Martinez | Fossil Free California | luis@fossilfreeca.org | (424)338-0534 Today we are unveiling a mapping tool that was produced by our research team at Fossil Free California. It is an incredible tool that allows us all to see a reality that working…
Read moreUnions Support Divestment to Protect California State Worker Pensions
Public employees deserve a secure pension, safe working conditions, and a livable place to retire. While fossil fuel investments are extremely volatile and risky, fossil fuel pollution drives climate chaos in California — including extreme heat, flooding, toxic air pollution, water contamination, and wildfires. Our pension funds actively investing in fossil fuels is undermining our…
Read moreFinancial 101 – What Divesting California’s Public Pensions from Fossil Fuels Means
What’s a public pension? What does public pension divestment mean? Why is this good for workers? Has divestment worked before? Get your questions answered with our Financial 101. Read below, or download the PDF. What is a public pension? What are CalPERS and CalSTRS? A public pension is a pension system for public employees –…
Read moreFrequently Asked Questions – Senate Bill 252, The Fossil Fuel Divestment Act
CalPERS has roughly $9.4 billion dollars, and CalSTRS $5.4 billion dollars ($14.8 billion in all) of stock and bond investments in the top 200 coal, oil and gas production companies.
Read moreWhy Divest from Fossil Fuels
“It’s time to take the next step in climate action. Divestment sends a message to companies that have shown little interest in seriously addressing a problem that places human existence in peril for the sake of profits: time’s up.”
Read moreREPORT: CalPERS & CalSTRS lost over $9.6 billion by not divesting from fossil fuels 10 years ago
On June 28, 2023, the University of Waterloo released a groundbreaking report revealing that by not divesting, CalPERS lost $4.7 billion in missed returns, or $3,163 per beneficiary. CalSTRS lost over $4.8 billion in missed returns, or $5,114 per beneficiary over the last ten years, by not removing fossil fuels from their investment portfolio.
Read moreREPORT: CalPERS & CalSTRS lost over $9.6 billion by not divesting from fossil fuels 10 years ago
On June 28, 2023, the University of Waterloo released a groundbreaking report revealing that by not divesting, CalPERS lost $4.7 billion in missed returns, or $3,163 per beneficiary. CalSTRS lost over $4.8 billion in missed returns, or $5,114 per beneficiary over the last ten years, by not removing fossil fuels from their investment portfolio.
Read moreOakland City Attorney comes out in strong support of SB 252, California’s fossil fuel divestment bill
Oakland City Attorney Barbara J. Parker’s op-ed reads: “Divesting from fossil fuel companies is the right thing to do to protect California’s frontline and fenceline communities. Due to long legacies of systemic racism, these communities are disproportionately impacted by climate change, climate harm, and pollution. The Legislature must pass SB 252 this year. This bill is both financially prudent and essential to meeting our collective climate goals.”
Read moreOakland City Attorney comes out in strong support of SB 252, California’s fossil fuel divestment bill
Oakland City Attorney Barbara J. Parker’s op-ed reads: “Divesting from fossil fuel companies is the right thing to do to protect California’s frontline and fenceline communities. Due to long legacies of systemic racism, these communities are disproportionately impacted by climate change, climate harm, and pollution. The Legislature must pass SB 252 this year. This bill is both financially prudent and essential to meeting our collective climate goals.”
Read moreCalifornia fossil fuel divestment bill – SB 252 – passes Senate with massive momentum
FOR IMMEDIATE RELEASEMay 25, 2023Contact: Shana DeClercq | shana@fossilfreeca.org | (415) 376-3746Photos available here Indigenous lands of the Nisenan and Miwok Peoples (colonially called Sacramento, California) – Today, SB 252 – a widely-supported bill for the two biggest public pensions in the U.S., CalPERS and CalSTRS – to phase out fossil fuel investments – passed…
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