Email California Legislators: Vote YES to Divest!

We are facing the immediate and ever-growing impacts of climate change on our health, safety, and our biosphere. Despite California's historic carbon reduction goals, the state's massive retirement pension funds are actively investing billions in the very fossil fuel companies powering the climate crisis.

In 2022, CalPERS and CalSTRS are using the retirement savings of teachers and public employees to finance fossil fuel companies to the tune of $9 billion. We know that these investments are indefensible for the following reasons:

A study has shown that if CalSTRS and CalPERS had divested from fossil fuels in 2010, they would have gained $5.5 & $11.9 BILLION additional returns for their beneficiaries by 2019.
Unions representing over 100,000 CalPERS and CalSTRS beneficiaries have passed resolutions calling for their pensions to divest from fossil fuels, including the United Teachers of Los Angeles, the California Federation of Teachers, and the California Faculty Association.
There is legislative precedent: the California Legislature passed SB 185 in 2015, which required CalPERS and CalSTRS to liquidate their failing investments in thermal coal companies. Furthermore, Governor Newsom recently issued an Executive Order on Climate Change calling on CalPERS and CalSTRS to "leverage the state's $700 billion investment portfolio to advance California's climate leadership."

SB 1173 — the Fossil Fuel Divestment Act — would seize the momentum of the worldwide divestment movement by requiring CalPERS and CalSTRS to divest from the top 200 fossil fuel companies within 5 years and report annually on their progress.

The bill has been introduced to the Senate Desk and will be heard by the Senate Labor, Public Employee and Retirement, and Judiciary Committees.

We need your voice: call on these committee members to vote YES on SB 1173 to divest!

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I am writing to urge you to pass SB 1173, the Fossil Fuel Divestment Act.

We have experienced unprecedented and ongoing wildfires, droughts, floods and other extreme weather events. Yet as the state of California burns, the state's massive retirement pension funds are actively investing billions in the very fossil fuel companies powering the climate crisis.

CalSTRS’ and CalPERS’ continued investments in fossil fuels have devastating real-world impacts on our planet and its people, including the students, teachers, public employees, and retirees they serve. While the climate crisis affects all of us, it is especially harmful to young people and to the low-income communities of color where most oil and gas infrastructure is located.

Fossil fuel investments aren't only immoral—they're irresponsible. CalSTRS and CalPERS have almost $9 billion invested in fossil fuel producers. An independent study completed in 2019 found that if CalPERS and CalSTRS had divested in 2009, they would respectively have netted an additional $11.9 and $5.5 BILLION over the next decade. During the past seven years, the fossil fuel industry has had the highest risk of all sectors on the stock market and was the only sector to lose value. Furthermore, research indicates that about half the world's fossil fuel assets will be worthless by 2036 as nations work towards their carbon reduction goals.

Unions representing over 100,000 CalPERS and CalSTRS members have passed resolutions calling for their pensions to divest from fossil fuels. In order for CalSTRS and CalPERS to achieve their missions and fiduciary duties, they must divest from fossil fuels. Please vote in support of SB 1173.

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