Posts Tagged ‘risk’

World Leaders Urge Oil and Gas Firms to Disclose Climate-Related Risks

Some of the most powerful financial experts in the world are seriously worried about climate change. The Bank of England’s Governor Mark Carney, who chairs the Financial Stability Board of the “G20” summit of the world’s richest nations, said “The challenges currently posed by climate change pale in significance compared with what might come.”

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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…

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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…

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Watch Live Video of CalSTRS Investment Committee

The Investment Committee of CalSTRS meets all day Friday, April 8 in Sacramento, beginning around 9 am. The Committee will consider a number of important items and policies. This meeting coincides with the newly released risk report on the Fund’s exposure from investments in fossil fuels. [ExxonMobil is CalSTRS’ 6th largest investment]. Fossil Free California’s …

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CalPERS Meeting on Climate Change: FFCA Letter and Comments

On Monday, March 14, the Investment Committee of CalPERS, California’s state employees’ pension fund, meets for the annual review of its climate change initiatives.  Fossil Free California’s  Steering Committee has submitted a letter to CalPERS Board and staff and will make public comments. FFCA’s letter asks for three actions: (1) Follow CalSTRS’ example by immediately…

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CalSTRS: Divesting from coal is not enough!

Climate risk is the number one threat facing the world; it’s also the number one risk to the global economy. The largest teachers’ pension fund in the United States, CalSTRS, recently voted unanimously to divest from US thermal coal—an important step in reducing carbon emissions. However, CalSTRS’ $1.5 million divestment from coal is overshadowed by…

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Notes from CERES' Investor Summit on Climate Risk

On January 27, several hundred distinguished investors and government officials gathered at UN headquarters in New York for CERES’ 16th “Investor Summit on Climate Risk.” Building on the momentous agreements reached at the COP21 Climate Summit in Paris, the focus was on “Advancing the Clean Trillion” — finding ways to increase investment in clean energy…

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The Arctic is safer today

Here’s some very good news for the planet—and for Alaska—though not for Shell. The Guardian reports that the US government is canceling some offshore leases and imposing stricter conditions on Arctic drilling. As a result, Shell and other oil companies are unlikely to pursue further exploration in that part of the world. The Guardian: Barack Obama…

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CalPERS, CalSTRS lose $5 billion on fossil fuels

Over the last fiscal year, CalPERS and CalSTRS held on to their investments in coal, oil, and gas. They now know that was a big mistake. Clinging to the myth of Old Energy’s profitability and the chimera of shareholder engagement, the two big California state pension funds squandered over $5 billion in pension assets. 350.org today released…

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Nobody's buying coal

Fossil fuel divestment is a campaign that’s snowballing—if you’ll excuse a mixed metaphor. In just the last month San Luis Obispo, California, and Corvallis, Oregon, have voted to divest. The University of Hawaii and the Rhode Island School of Design have done the same. And the University of Washington decided to divest from coal, as did the $900-billion Government Pension Fund of…

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