Legislative
Frequently Asked Questions – Senate Bill 252, The Fossil Fuel Divestment Act
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.
Read moreWhat Does Divestment Cost? Misinformation from CalPERS and CalSTRS
The “fiscal impact” analysis for the Appropriations Committee in the state Senate or Assembly can make or break a bill. For divestment bills, CalPERS and CalSTRS have repeatedly given imprecise, incorrect, and inflated figures on the costs of divestment, including in the numbers reported to the Appropriations Committee for SB 1173, the Fossil Fuel Divestment Bill.
Read moreCalSTRS Exaggerates Costs of Divestment
CalPERS and CalSTRS manage portfolios worth $466 billion and $323 billion, respectively, so it’s natural for these public pension funds to throw around large numbers. But evidence from the funds…
Read moreClimate Justice Coalition Cheers as Senator Gonzalez Introduces Pension Fossil Fuel Divestment Bill
Today, Senator Lena A. Gonzalez (D-Long Beach) introduced SB 1173 — the Fossil Fuel Divestment Act — in the California state legislature. The bill would mandate that California’s public pension…
Read more