Posts Tagged ‘divestment’
MAY 25: California fossil fuel divestment bill heads to full Senate floor vote
MEDIA ADVISORYFOR PLANNING PURPOSESMay 24, 2023 Contact: Shana DeClercq | shana@fossilfreeca.org | (415) 376-3746 After passing Senate Appropriations, SB252 is the “climate bill that could.” Tremendous momentum for California, the world’s sixth largest economy, to lead on climate, economic, and fiduciary responsibility. WHAT: SB 252 (CalPERS & CalSTRS fossil fuel divestment bill) full Senate floor vote WHEN…
Read moreCalifornia’s Public Pension Divestment Bill – SB 252 – Confirmed through Senate Appropriations, Now Heads to Senate Floor
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…
Read moreWhat is Climate Accountability Bill Package?
The Climate Accountability package comprises 3 transformational bills that will ensure we are meeting the climate crisis with strong data, financial transparency, risk mitigation, and in the case of our public pensions, divestment of $14 billion of fossil fuel funds. Learn more with these informative graphics from California Environmental Voters. Your Voice Matters! State Assembly…
Read moreFinancial outcomes from divesting from fossil fuels
Screening out fossil fuel stocks has not had a significant impact on returns for global, well-diversified portfolios — in fact over the past 12 years, an index without fossil fuels outperformed its most similar index with fossil fuels, and two separate studies by found that divestment actions taken by funds worldwide have passed the prudence tests required of fiduciaries. An additional academic study spanning decades that included previous oil price spikes found no significant difference in performance between portfolios with and without fossil fuels.
Read moreMeet the California Fossil Fuel Divestment Coalition!
Now with over 140 labor unions and organizations in support, the California Fossil Fuel Divestment Coalition is building support in every corner of the state for SB 252, which will divest California’s public pensions from fossil fuels.
Read moreCalifornia public pension divestment bill building momentum; passed Senate Labor and Judiciary Committees
SACRAMENTO | Today, SB 252 – a widely-supported bill for CalPERS and CalSTRS to phase out fossil fuel investments – is expected to pass its second Committee hearing in the California State Senate at the Senate Judiciary Committee.
Read moreCalifornia fossil fuel divestment bill passes first Senate Committee hearing
Today, SB 252 – a widely-supported bill for CalPERS and CalSTRS to phase out fossil fuel investments – passed its first Committee hearing in the California State Senate. On Tuesday, April 18, the Senate Judiciary Committee is set to hear the bill.
Read moreFossil fuels are a losing bet. Why are CalPERS and CalSTRS still investing in them? [Sacramento Bee]
SB 252 is about more than divesting from fossil-fueled chaos. It’s about requiring CalPERS and CalSTRS to meet their fiduciary duty to protect the future of not only the funds they manage, but of the lives and livelihoods of Californians and pension beneficiaries everywhere.
Read moreCalifornia public pension divestment bill – SB 252 – goes before the Senate Labor Committee
On Wednesday, April 12th, the Senate Labor, Public Employment and Retirement Committee will vote on SB 252, which will divest CalPERS and CalSTRS by 2030. If passed, the bill will then progress to the Senate Judiciary Committee on Tuesday April 18th. These hearings come as Californians experience intensifying fires, deadly heat, and deepening drought.
Read moreCalifornia State Treasurer Fiona Ma Supports Fossil Fuel Divestment Bill
California has an opportunity to again lead on climate issues, energizing the global advocacy effort and ensuring the long-term sustainability of retiree pensions. This legislation gives our pension funds the necessary time to prudently plan for divestment, including identifying suitable investment alternatives” – Fiona Ma
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