Press Releases

Newsom Surprises New York Climate Week with Announcements on SB 253, SB 261, Advancing the Climate Accountability Bill Package

September 18, 2023

In a surprise move Sunday, California Governor Gavin Newsom announced his intention to sign Senate Bills 253 and 261, groundbreaking climate legislation, advancing the suite of bills announced jointly in January as the Climate Accountability Bill Package. Senate Bill 252, the third bill in the package, now a two-year bill, is poised to clear the Assembly in 2024.

Broad Coalition Calls on CalPERS to Update Approach to Climate Change

September 18, 2023

For Immediate Release: Monday, September 18, 2023Contact: Elizabeth Brennan (213) 999-2164  SACRAMENTO** | Following record-breaking temperatures, a tropical storm, a hurricane and several megafires throughout California, a growing coalition of organizations is urging CalPERS to update its approach to climate risk in line with its fiduciary duty. The groups are calling on the fund to…

REPORT: CalPERS & CalSTRS lost over $9.6 billion by not divesting from fossil fuels 10 years ago

June 28, 2023

On June 28, 2023, the University of Waterloo released a groundbreaking report revealing that by not divesting, CalPERS lost $4.7 billion in missed returns, or $3,163 per beneficiary. CalSTRS lost over $4.8 billion in missed returns, or $5,114 per beneficiary over the last ten years, by not removing fossil fuels from their investment portfolio.

Oakland City Attorney comes out in strong support of SB 252, California’s fossil fuel divestment bill

June 14, 2023

Oakland City Attorney Barbara J. Parker’s op-ed reads: “Divesting from fossil fuel companies is the right thing to do to protect California’s frontline and fenceline communities. Due to long legacies of systemic racism, these communities are disproportionately impacted by climate change, climate harm, and pollution. The Legislature must pass SB 252 this year. This bill is both financially prudent and essential to meeting our collective climate goals.”

California fossil fuel divestment bill – SB 252 – passes Senate with massive momentum

May 25, 2023

FOR IMMEDIATE RELEASEMay 25, 2023Contact: Shana DeClercq | shana@fossilfreeca.org | (415) 376-3746Photos available here Indigenous lands of the Nisenan and Miwok Peoples (colonially called Sacramento, California) –  Today, SB 252 – a widely-supported bill for the two biggest public pensions in the U.S., CalPERS and CalSTRS – to phase out fossil fuel investments – passed…

MAY 25: California fossil fuel divestment bill heads to full Senate floor vote

May 24, 2023

MEDIA ADVISORYFOR PLANNING PURPOSESMay 24, 2023 Contact: Shana DeClercq | shana@fossilfreeca.org | (415) 376-3746 After passing Senate Appropriations, SB252 is the “climate bill that could.” Tremendous momentum for California, the world’s sixth largest economy, to lead on climate, economic, and fiduciary responsibility. WHAT: SB 252 (CalPERS & CalSTRS fossil fuel divestment bill) full Senate floor vote WHEN…

California’s Public Pension Divestment Bill – SB 252 – Confirmed through Senate Appropriations, Now Heads to Senate Floor

May 18, 2023

It’s the “climate bill that could:” SB 252’s tremendous momentum demonstrates that California, the world’s sixth largest economy, is prepared to lead on climate and fiduciary responsibility, taking the helm of the financial industry’s shift toward fiscally responsible investing. FOR IMMEDIATE RELEASEMay 18, 2023Contact: Shana DeClercq | shana@fossilfreeca.org | (415) 376-3746Photos available here | Banner…

California public pension divestment bill building momentum; passed Senate Labor and Judiciary Committees

April 18, 2023

SACRAMENTO | Today, SB 252 – a widely-supported bill for CalPERS and CalSTRS to phase out fossil fuel investments – is expected to pass its second Committee hearing in the California State Senate at the Senate Judiciary Committee.

California fossil fuel divestment bill passes first Senate Committee hearing

April 12, 2023

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.

California public pension divestment bill – SB 252 – goes before the Senate Labor Committee

April 10, 2023

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.