Call for Divestment at the CalPERS Board Meeting
Join us in calling for CalPERS to stop supporting fossil fuels immediately. CalPERS currently has nearly $30 billion in fossil fuels and $8 billion in coal and coal-related industries.
As fires are ravaging our state and choking our lungs, fossil fuel companies continue to pollute our air and drinking water by mining fossil fuels in communities, we must take action.
If you’re interested in making a public comment for the CalPERS Investment Committee Meeting on Monday, September 13, here are specifics on the meeting and some talking points.
The CalPERS Investment Committee meets on Monday, September 13th,, when there will be a review of the Total Fund investment policy, including the divestment policy (Item 6a). The agenda shows that the Open Meeting starts after the Closed Session adjourns - at approximately 11:15 am. Item 6a might start around 1:15 pm. The main Public Comment time is at Item 9 - at 2:00pm or later.
The earliest call-in time will be around noon, exact time TBD. Call (800) 259-4105 to be put in the queue. If you send us your mobile number, we can text you when it’s time to call in.
How to make a comment:
- Call into the meeting to make a live comment (3 minutes maximum; 2 minutes are best) to board members. To keep you from having to stay on the line waiting for the agenda item to come up, we can text anyone who wants to be notified when it’s the right time to call in. Just send us your mobile number. We don’t know ahead of time, but probably the call-in time will be around noon.
To call in:
- Dial (800) 259-4105. You’ll get a voice prompt asking you to record your name and item you wish to offer public comment on - either Item 6a or Item 9.
- A staff member will contact you to make sure the phone correctly captured your name and info, then put you into a waiting queue until the moment for public comment on your item arrives. At that point, staff will open up the line, introduce you, and you’ll then have 2-3 minutes to make your comment. Note that if you are listening to the meeting on your computer you will want to turn off the sound when your name is called because there is a delay in when you speak and when your comments can be heard.
- If you cannot call in, you can email your comment at least a day in advance of the meeting to firstname.lastname@example.org .
For all comments: State your name and relationship to CalPERS (e.g., member, retiree, concerned Californian).
Learn About CalPERS and Fossil Fuels
Recommended Talking Points for Public Comments
- CalPERS should divest its $48 million from China Energy, the biggest coal plant developer in the world, which is planning 43 GW of new coal capacity.
- When is CalPERS going to divest from Exxaro, from which it has been mandated to divest since 2017?
- Fossil fuel companies locate disproportionately in communities of color and low income communities, exposing them to toxic pollution causing asthma, lung disease, and cancers. CalPERS' investments in these companies is an example of structural racism.
- CalPERS engagement policy is no more than greenwashing when it allows CalPERS companies like Exxon, Shell, and Duke Energy to continue massive expansion plans.
- CalPERS engagement policy allows companies to greenwash by delaying net zero to 2050. That's too late. Net zero should be accomplished by 2040 with a 50% reduction by 2030.
- CalPERS engagement policy allows companies to greenwash by setting goals toward net zero but not explaining how they're going to meet them.
- Engagement has failed as an effective solution to the climate crisis when companies such as Exxon, Chevron, Shell, Total, Conoco Phillips, and Duke Energy all continue to expand.
- I want CalPERS to divest because......(make it personal)