, students, retirees, and California communities across the state celebrate as Senator Lena Gonzalez, joined by Sen. Scott Wiener, and Sen. Henry Stern announced that they will introduce new Senate legislation, the California Fossil Fuel Divestment Act , which will divest the state’s public pension funds — CalSTRS and CalPERS — from fossil fuels,” they state.
, Californians have made thousands of calls, written nearly 20,000 letters, and organized dozens of meetings with legislators to advocate for the divestment of California’s public pension funds.
So, indeed, even as a climate leader in this regard, California wouldn’t be first. Its great eastern US rival New York is even ahead of California on this one. Perhaps it’s time to catch up? And with the various components of the package, it appears that it does go even further. I’ll let Senator Scott Wiener have the final word. “It raises the bar for pro-climate investment, setting a standard that could influence how trillions more dollars in investments are apportioned. SB 252 ends California’s contradictory and incongruous policy of being a leader in the fight against climate change, while simultaneously investing billions of dollars of teacher and state-employee retirement funds directly into the fossil fuel corporations that are the leading cause of climate change.
We should all be doing this. Get your money out of fossil fuel companies. Every penny counts.
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