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

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…

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Gratitude for the Power of Collective Actions

“A failure.”  “The most exclusionary climate summit ever.”  “A Greenwash Festival.”  “A source of great shame because COP26 will be the whitest and most privileged ever, with thousands who intended to travel from poorer countries excluded.”  These are just a few of the many critiques of COP26.  Amidst the heaviness and disappointment following COP 26,…

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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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Victory for Engagement at Exxon: It’s Not Enough

Fossil fuel giant ExxonMobil was forced to seat three new climate-competent board members on May 26, as a result of a $30 million proxy fight led by a tiny hedge fund named Engine No.1.  Will this unprecedented event help transform Exxon into a climate-friendly company?  Chris Ailman, the CIO of CalSTRS who was among the…

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How Much Could CalPERS Lose to Fossil Fuels?

The fossil fuel industry faces enormous losses when their proved reserves become stranded assets. Fossil fuel companies cannot recover their investments in locating and developing new reserves if these reserves cannot be extracted and sold.

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Fossil Fuels Are Increasing COVID-19 Cases

During the COVID-19 pandemic, the importance of fossil fuel divestment continues to become increasingly clear. July brought numerous pipeline cancellations, fossil fuel company bankruptcies, and a sobering study correlating EPA pollution rollbacks with COVID-19 infections and deaths.

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Tell the State by April 10th: No Drilling Where We’re Living!

The COVID-19 outbreak has postponed completion of a statewide series of public meetings on the best ways to protect human health through new rules on oil and gas extraction in California (possibly requiring 2,500-foot setbacks from schools and hospitals, etc.). BUT YOU CAN STILL INFLUENCE THE RULES: The state is taking public comments via email…

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