Posts Tagged ‘shareholder engagement’

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…

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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…

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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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Oakland pension fund considers divestment

Almost two years ago, the Oakland City Council voted to divest, prohibiting the city “from having any financial holdings or investments in fossil fuel companies.” The City of Oakland has begun that process with its own investments, but the Oakland Police and Fire Retirement System (PFRS), as a separate entity, is not bound by the city’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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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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CalSTRS divestment: unhappy anniversary

Anniversaries are a time to pop open a bottle of champagne to toast the successes of the previous year; however, the first anniversary of Fossil Free California’s (FFCA) relationship with California’s state teachers’ pension fund, CalSTRS, has forced us to keep the bottle corked and hope for better days ahead. Why? Although teachers value CalSTRS…

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Rally for CalSTRS divestment

On Friday, June 12, the Investment Committee of the California State Teachers’ Retirement System (CalSTRS) meets in West Sacramento. Divestment activists will rally at CalSTRS headquarters to urge that the committee begin the process of divestment from fossil fuels. It’s about time. Over the years, CalSTRS has established an enviable record of concern for the environment. The…

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More from the campaign launch

Fossil Free California is ramping up on many fronts. Our initial emphasis is on the state’s two big pension funds, the California Public Employees’ Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalPERS). That’s why we held this rally to launch the campaign at the CalPERS headquarters in Sacramento. Here are some additional…

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Vosburg: Shareholder engagement is futile

On Global Divestment Day, the second campaign-launch speaker in Sacramento was Jane Vosburg, a retired teacher and fervent activist for fossil fuel divestment. She is divestment coordinator for 350 Sonoma County and for the CalSTRS campaign of Fossil Free California. Her speech: “Action on climate change must happen now!” CalSTRS knows this. And CalPERS knows it. They also know that…

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