Governor Newsom Will Sign SB 253, SB 261, Advancing the Climate Accountability Bill Package

By Shana DeClercq | September 19, 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.

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Rally. Masked activists hold each side of a super-sized white sign that reads, "Time's Up, CalPERS. 150,000 Say Divest From Fossil Fuels."

Why Divest from Fossil Fuels

By Carlos Davidson | September 5, 2023

“It’s time to take the next step in climate action. Divestment sends a message to companies that have shown little interest in seriously addressing a problem that places human existence in peril for the sake of profits: time’s up.”

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Image of an industrial operation with several smokestacks billowing smoke.

Net Zero is a False Narrative and a Dangerous Trap

By Diana Curiel and Sandy Emerson | September 5, 2023

Carbon capture technologies are being used to justify increasing oil production, and delay the inevitable and essential transition to clean energy. They are risky, energy intensive, and expensive. Instead, we need to use our financial resources to accelerate the transition to renewable and clean energy, and lower our carbon emissions by reducing our reliance on fossil fuels.

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Collage graphic. Across a photo of an Oakland City building is screenshot of a headline that reads, "Opinion: Divest California public employee pensions from fossil fuels. Ending CalPERS and CalSTRS funding of this industry is critical to meet local, national and international goals." At right is a headshot of Oakland City Attorney Barbara J. Parker.

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

By Fossil Free California | 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.”

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What is Climate Accountability Bill Package?

By Fossil Free California | May 15, 2023

The Climate Accountability package comprises 3 transformational bills that will ensure we are meeting the climate crisis with strong data, financial transparency, risk mitigation, and in the case of our public pensions, divestment of $14 billion of fossil fuel funds. Learn more with these informative graphics from California Environmental Voters. Your Voice Matters! State Assembly…

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Photo that shows a closeup of a person's hands stacking coins in increasingly larger stacks, with seedlings on top of each stack.

Financial outcomes from divesting from fossil fuels

By UC Berkeley Economics Professor Clair Brown, Sandy Emerson, Sara Theiss and Glenn Fieldman | May 8, 2023

Screening out fossil fuel stocks has not had a significant impact on returns for global, well-diversified portfolios — in fact over the past 12 years, an index without fossil fuels outperformed its most similar index with fossil fuels, and two separate studies by found that divestment actions taken by funds worldwide have passed the prudence tests required of fiduciaries. An additional academic study spanning decades that included previous oil price spikes found no significant difference in performance between portfolios with and without fossil fuels.

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Logos of many (but not all) of the organizations in the California Fossil Fuel Divestment Coalition.

Meet the California Fossil Fuel Divestment Coalition!

By Fossil Free California | May 2, 2023

Now with over 140 labor unions and organizations in support, the California Fossil Fuel Divestment Coalition is building support in every corner of the state for SB 252, which will divest California’s public pensions from fossil fuels.

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Photo of Fiona Ma, California State Treasurer.

State Treasurer Fiona Ma Issues Statement to Support Divestment Legislation following CalPERS Board Meeting

By Shana DeClercq | March 16, 2023

Divestment sends a message to companies that have shown little interest in seriously addressing a problem that places human existence in peril for the sake of profits: time’s up. This legislation gives our pension funds the necessary time to prudently plan for divestment, including identifying suitable investment alternatives.

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Frequently Asked Questions – Senate Bill 252, The Fossil Fuel Divestment Act

By Fossil Free California | March 15, 2023

CalPERS has roughly $9.4 billion dollars, and CalSTRS $5.4 billion dollars ($14.8 billion in all) of stock and bond investments in the top 200 coal, oil and gas production companies.

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Información del proyecto de ley del Senado (SB) 252

By Fossil Free California | March 13, 2023

¿Por qué es fundamental apoyar el proyecto de ley SB 252? Ahora, en el 2023, es tiempo de acabar con la contaminación de los combustibles fósiles que destruye nuestras comunidades y contamina nuestro aire, suelo y agua. TE NECESITAMOS para ayudar a aprobar el proyecto de ley SB 252 y desinvertir las pensiones públicas de…

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