Divestment Legislation
Let's end CalPERS and CalSTRS' financing of the fossil fuel industry — Join the coalition to pass SB 252
California’s two main retirement systems provide over $14 billion to fossil fuel corporations that are building coal plants, oil pipelines and fracked gas wells.
SB 252 was introduced in 2023 and is now a two-year bill with expected passage in 2024.
We are building a powerful coalition of unions, cities, organizations, pension beneficiaries, and frontline community members to target CalPERS and CalSTRS with fossil fuel divestment legislation.
Make a difference on climate change today. Email your Assemblymember and ask for their YES vote on SB 252, to divest California's public pensions from fossil fuel investments. Let’s win divestment of over $14 billion dollars in 2023.
Let's Pass California Senate Bill 252
In January 2023, Senator Lena Gonzalez, joined by Sen. Scott Wiener, and Sen. Henry Stern introduced new Senate legislation, the California Fossil Fuel Divestment Act (SB 252), which will divest the state’s public pension funds–CalPERS and CalSTRS– from fossil fuels.
SB 252 is groundbreaking climate legislation in California – it is now a two-year bill which will next be taken up by the Assembly Public Employment and Retirement Committee in 2024.
This bill has already demonstrated extraordinary momentum, having passed three Senate committees and a full Senate vote. We are building a powerful coalition of unions, organizations, youth leaders and climate justice advocates to win full passage of SB 252 by 2024. Join us!
TAKE ACTION
Union Resolutions in Support of Divestment
You can build momentum for SB 252 by passing a divestment resolution with your union. We've got your back with tools, information, and sample resolution text.
Cities and Counties Supporting SB 252
A number of cities have joined the fossil fuel divestment campaign! They’ve passed resolutions requiring any city investments they make to be fossil free and calling on CalPERS to divest. With momentum for SB 252 building, you can help lead the way to legislative victory by asking your city to pass a resolution supporting fossil fuel divestment now.
Join the Coalition as An Individual
If you live in California, join our coalition to support SB 252. Let's win fossil fuel divestment in 2023!
LEARN MORE
Fossil Free California: Frequently asked questions - Senate Bill 252
Fossil Free California: Financial outcomes from divesting from fossil fuels
Sacramento Bee: Climate bills on fossil fuel divestment, emissions disclosure make headway
Bloomberg Law: CalPERS fossil fuel divestment bill hinges on union support
Washington Post: Three ambitious climate bills to watch in California
Fossil Free California: What does divestment cost? Misinformation from CalPERS and CalSTRS
Photo credits:
Youth activist with bullhorn at the March for Stolen Lives and Stolen Futures: Brooke Anderson, @movementphotographer
Group photo of SB 252 bill author Senator Lena Gonzalez and Fossil Free California staff: Shana DeClercq.