Call on California assemblymembers to pass SB 252

We need your help passing California's Senate Bill 252, which would require CalPERS and CalSTRS — the two largest public pension funds in the state and U.S. — to divest over $14 billion dollars from fossil fuel companies. When pension funds finance these companies, they directly enable the continued production and burning of fossil fuels. This destructive practice drives up global greenhouse gas emissions and harms our planet Earth.

SB 252 is currently in the California Assembly's Public Employment and Retirement Committee and awaiting a vote. Let lawmakers know that California residents support this crucial legislation and want them to vote 'YES'.

Tell the California Assembly's Public Employment and Retirement Committee to pass SB 252 and support fossil fuel divestment!

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State Assemblymember

Dawn

Addis

California State Assembly

Chair

Tina

McKinnor

California Assembly

Mr.

Tom

Lackey

California Assembly

Mr.

Vince

Fong

California State Assembly

Mr.

Matt

Haney

California State Assembly

Ms.

Stephanie

Nguyen

California State Assembly

Ms.

Pilar

Schiavo

California State Assembly

Dear {contact_data~positionHeld} {contact_data~lastName},

In California, we have experienced unprecedented and ongoing wildfires, droughts, floods and other extreme weather events. In 2020, we experienced the worst fire season on record, and this winter, a series of nine atmospheric rivers caused over 700 landslides, widespread power outages, damages of over $1 billion dollars, and 20 deaths. Yet as the state of California alternately floods and 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 California and its people, including the students, teachers, public employees, and retirees the funds are meant to 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.

As someone who lives in your Assembly district, I am writing to urge you to pass SB 252 (the Fossil Fuel Divestment Bill).

Fossil fuel investments aren't only unjust—they're also fiscally irresponsible. CalSTRS and CalPERS have over $14 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 470,000 CalPERS and CalSTRS members support SB 252 - Fossil Fuel Divestment. In order for CalSTRS and CalPERS to achieve their missions and fiduciary duties, they must divest from fossil fuels. I’m writing to ask you to be a climate leader and vote in support of SB 252.

Thank you,
{user_data~First Name} {user_data~Last Name} {user_data~Zip or Postal Code}

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