CALIFORNIA'S PUBLIC PENSIONS
FUND CLIMATE CHAOS
CalPERS and CalSTRS are financing the fossil fuel industry—and their members are paying the price.
California’s two main retirement systems provide over $42 billion to fossil fuel corporations that are building coal plants, oil pipelines and fracked gas wells.
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.
OUR WORK
In 2022, the California Senate passed the Fossil Fuel Divestment Bill (SB 1173), which would have required CalPERS and CalSTRS to divest from fossil fuels by July 2030. Since the bill was introduced with the support of 143 unions, cities, and organizations, Californians made thousands of calls, wrote over 17,000 letters, and organized dozens of meetings with legislators to advocate for SB 1173.
While the bill’s progress has been put on pause, we’ll be back with similar legislation stronger than ever in 2023.
TAKE ACTION
Contact your representative
If you live in California, call on your Senator and Assemblymember to get on board with fossil fuel divestment in 2023!
Join the Divestment Bill Team
Our Divestment Bill Team targets CalPERS, CalSTRS, and other public funds in California with legislative and executive initiatives around fossil fuel divestment.
LEARN MORE
Common Dreams: ‘Moral Failure’: California Dem Pulls Plug on Fossil Fuel Divestment Legislation
Capital & Main: The Author of California’s Failed Fossil Fuel Divestment Bill Describes What Went Wrong
Fossil Free California: What Does Divestment Cost? Misinformation from CalPERS and CalSTRS
Fossil Free California: FAQ on the Fossil Fuel Divestment Bill