CalPERS Finally Divests More Coal

Coal Truck in Open Pit Mine

CalPERS has finally divested from three more thermal coal companies, as required by law. Following the passage of SB 185 (2015) CalPERS divested from all but three (out of 17) selected thermal coal mining companies: Exxaro, Adaro, and Banpu.

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Time’s Up, CalPERS! Defund Climate Chaos

On November 1, Managing Director Anne Simpson and other CalPERS dignitaries will appear on the global stage of the COP26 conference in Glasgow. This climate summit (competing for air time with climate-change-fueled natural disasters and the continuing global pandemic) is another opportunity for world leaders to pledge to address climate chaos by setting emissions reduction…

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Asset Owners Tackle Thermal Coal

The UN-convened Net Zero Asset Owners Alliance, of which CalPERS is a founding member, recently published a position paper on thermal coal that sets targets and timelines for reducing the production and use of this highly-polluting fossil fuel. And in a move that rightly leverages the enforcement power that these large investors should have, the introductory note to the position paper states that divestment is an option for companies that don’t cooperate.

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CalPERS Coal Debate in Context

When Fossil Free California (FFCA) presented CalPERS with its report “CalPER Continues to Invest in Coal” we were impressed with the speed and scope of CalPERS’ response: the Fund took our findings very seriously. CalPERS published its response (a letter under the signature of CEO Marcie Frost) on its website and also Tweeted it out…

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Coal Policy and Financial Risk

The High Road to Paris Institutional investors now are graded on how well their coal policies align with the Paris Agreement. Which funds get high marks? Thursday, September 24 11:00am PT/2:00pm ET at Climate Week NYC 2020,

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CalPERS Continues to Invest in Coal

CalPERS Continues to Invest in Coal

Today, Fossil Free California released a hard-hitting report, “CalPERS Continues to Invest in Coal.” This 14-page report shows that CalPERS continues to hold millions in coal producers that make the majority of their revenue from thermal coal. In fact, CalPERS even increased its investments in Exxaro, a company that qualified for divestment in 2017 but…

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No Coal in Oakland Rally June 25

Join Fossil Free California at the No Coal in Oakland rally on June 25th! This rally is a run-up to the Oakland City Council meeting on June 27th, when the city will finally decide what to do about coal trains and export facilities. Along with divestment from coal, we support actions to stop coal from being shipped…

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Oakland Police and Fire System divests from coal

On Wednesday, May 25, the Oakland Police and Fire Retirement System (PFRS) voted to divest their pension funds from investments in coal. Next month, PFRS will consider whether to divest from oil and gas as well. During the morning’s Investment Committee meeting, members of Fossil Free California commented on the damaging effects of coal, after…

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CalSTRS features Fossil Free California

CalSTRS recently published its annual Sustainability Report, and it shows that the world’s largest teachers’ pension fund is increasingly aware of the significance of divestment. While the report continues to emphasize the current CalSTRS policy of shareholder engagement, the divestment movement receives a full and fair treatment. This page features our work at Fossil Free California. One section of the…

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