CALPERS Divestment from Fossil Fuels Legislation

What is happening? SB 1173 (202 | CA) would require CALPERS to divest $9.9 billion from fossil fuels if the CALPERS Board finds in good faith that the action is consistent with the board’s fiduciary responsibilities established in the California Constitution.

Why is this important? The bill is looking for divestment from the Carbon Underground 200 — a list of companies considered to have the greatest potential for future emissions from their coal, oil and gas reserves.

How will this be important? The goal is to reduce emissions and address climate change. Before this notion is discarded as California oriented, 1,500 institutional investors from around the globe, with assets approaching $40 trillion, have pledged to divest their fossil fuel holdings.

Santa Rosa Press Democrat via Governing | California May Require Pension Divestment from Fossil Fuels