Posts Tagged ‘stranded assets’

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…

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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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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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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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Rebuttals to an Anti-Divestment Op-Ed: Consider the Source

Fossil Free California and other climate activists are refuting a recent op-ed by William Shughart and Robert Wardle of Strata Institute that opposes CalSTRS’ divestment from thermal coal. As RL Miller of Climate Hawks Vote points out, “People need to know that this isn’t random – Strata is funded by Koch.” Shughart and Wardle’s guest…

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Jeremy Leggett: Fossil Fuels are Risky Business

Jeremy Leggett, “Non-executive Chairman” of the highly influential Carbon Tracker Initiative, recently met with analysts, legislators, and climate activists (including several from 350.org and Fossil Free California) in the Bay Area. Jeremy is a tireless crusader in the quest to alert investors to the increasing risks of fossil fuel investments and the need for more…

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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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Why coal divestment is important

Our goal at Fossil Free California is to reduce investments in all fossil fuels—coal, oil, and gas—and to publicize their destructive effects. But some institutions, resistant to total divestment, are willing to consider divesting only from coal. Is that a position we can support? Emphatically yes! A giant step Divesting from coal is a giant step…

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