Posts Tagged ‘divestment’

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

Carbon Bubble Threatens Investments

The carbon bubble threatens the investments of small investors as well as large, according to a recent article by Carol Clouse in The Guardian. When Big Oil’s unburnable reserves become stranded, these companies’ shares will experience a sudden and steep devaluation. As evidence mounts that fossil fuel companies will be required to “keep it in…

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

CalSTRS wants feedback on investment — let them know!

UPDATE: CalSTRS has extended the deadline one week, to September 23. The California State Teachers’ Retirement System (CalSTRS) is looking for feedback about their sustainability practices, and we have an excellent opportunity to let them know it’s time to divest. Their sustainability survey is here on the CalSTRS website. It’s open to everyone — not just CalSTRS…

Read more

CalSTRS moves $2.5 billion into low-carbon fund

On July 14, the California State Teachers’ Retirement System (CalSTRS) voted unanimously to move $2.5 billion in assets to a low-carbon index fund. This laudable decision is another indicator of CalSTRS’ focus on the financial consequences of climate change — complementing the board’s recent vote to divest from coal companies, in compliance with the mandates of SB 185, This low-carbon…

Read more

CalSTRS divestment: An apple for the teacher

On Wednesday, June 8, Fossil Free California and our allies came together for a silent demonstration at the CalSTRS headquarters in West Sacramento. As CalSTRS staff and board members entered the meeting room for the open session of the Investment Committee, we all lined the walls, holding red posterboard apples (“for the teacher”), each apple…

Read more

Oakland Police and Fire System divests from coal

On Wednesday, May 25, the Oakland Police and Fire Retirement System (PFRS) voted to divest their pension funds from investments in coal. Next month, PFRS will consider whether to divest from oil and gas as well. During the morning’s Investment Committee meeting, members of Fossil Free California commented on the damaging effects of coal, after…

Read more

Exxon's Board Meeting: Louder Protests; Still No Results

Exxon shareholders on Wednesday rejected a resolution that would have forced the oil giant to calculate and report the impact of climate change on its long-term business prospects, as well as other climate-related proposals, in some cases by an “overwhelming majority.” DeSmog Blog‘s Steve Horn reports that “shareholders voted against one that called for the…

Read more

CalSTRS features Fossil Free California

CalSTRS recently published its annual Sustainability Report, and it shows that the world’s largest teachers’ pension fund is increasingly aware of the significance of divestment. While the report continues to emphasize the current CalSTRS policy of shareholder engagement, the divestment movement receives a full and fair treatment. This page features our work at Fossil Free California. One section of the…

Read more