Posts by Shana DeClercq
California 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
Read moreState Treasurer Fiona Ma Issues Statement to Support Divestment Legislation following CalPERS Board Meeting
Divestment sends a message to companies that have shown little interest in seriously addressing a problem that places human existence in peril for the sake of profits: time’s up. This legislation gives our pension funds the necessary time to prudently plan for divestment, including identifying suitable investment alternatives.
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