What Does Divestment Cost? Misinformation from CalPERS and CalSTRS

By Sandy Emerson | May 9, 2022
Callout that reads Hyberbole in the Hearings: Pension Funds Exaggerate the Cost of Divestment

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.

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