fossil fuels Archives - Fossil Free California

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

By Fossil Free California | June 28, 2023

At the The Institute for Energy Economics and Financial Analysis conference, a group of six people stands on a stage facing out. At front is Zara Ahsan, youth divestment advocate, holding a climate clock which reads: “6 YEARS 29 DAYS 19:56:29 | CA WORKERS WOULD BE $9.6B RICHER.”

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.

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

By Shana DeClercq and Lindsay Meiman | May 25, 2023

Photo of a large group of people gathered to lobby for the Climate Accountability bill package. They are under large trees on the Sacramento Capitol grounds and hold a sign that reads, "Divest California's Public Pensions." Photo by Brooke Anderson.

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

By Fossil Free California | 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

By Shana DeClercq | 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…

SB 252 announced to divest California’s public pensions from oil and gas

By Miriam Eide | January 30, 2023

Student-led movement celebrates launch of California Fossil Fuel Divestment Act January 30, 2023 Contacts: Event Livestream Recording: Senator Gonzalez’s Office | YouTube Permalink Event Photos | Fossil Free California Photos California — Today amidst devastating flooding, an historic mega-drought, wildfires, and fossil-fueled public health crises, students, retirees, and California communities across the state celebrate as…

Fossil fuel-funded cop kills California climate legislation

By CJ Koepp | June 21, 2022

The California Fossil Fuel Divestment Coalition promises to return with similar legislation next year, and will turn up the pressure directly on CalPERS and CalSTRS to divest from fossil fuels.

New report reveals California pensions CalPERS, CalSTRS vote NO on Big Oil shareholder climate resolutions

By CJ Koepp | June 8, 2022

The retirement systems’ failed shareholder engagement efforts with fossil fuel companies has cost their members $11.9 billion in returns California — A report released today from Fossil Free California reveals that California’s public pensions voted to oppose climate action at major fossil fuel companies and financiers during the 2022 Annual General Meeting season. This exposé…