pensions Archives - Fossil Free California

REPORT: CalPERS & CalSTRS lost over $9.6 billion by not divesting from fossil fuels 10 years ago

By Fossil Free California | June 28, 2023

At the The Institute for Energy Economics and Financial Analysis conference, a group of six people stands on a stage facing out. At front is Zara Ahsan, youth divestment advocate, holding a climate clock which reads: “6 YEARS 29 DAYS 19:56:29 | CA WORKERS WOULD BE $9.6B RICHER.”

On June 28, 2023, the University of Waterloo released a groundbreaking report revealing that by not divesting, CalPERS lost $4.7 billion in missed returns, or $3,163 per beneficiary. CalSTRS lost over $4.8 billion in missed returns, or $5,114 per beneficiary over the last ten years, by not removing fossil fuels from their investment portfolio.

New report reveals California pensions CalPERS, CalSTRS vote NO on Big Oil shareholder climate resolutions

By CJ Koepp | June 8, 2022

A group of diverse protesters is gathered outdoors, holding signs and banners advocating for fossil fuel divestment.

The retirement systems’ failed shareholder engagement efforts with fossil fuel companies has cost their members $11.9 billion in returns California — A report released today from Fossil Free California reveals…

California Senate expected to vote on fossil fuel divestment this week

By CJ Koepp | May 25, 2022

A young climate activist marches in downtown Los Angeles holding a sign that says "SUPPORT SB 1173."

California — Amidst increasing drought and water crisis, wildfires, and tangible impacts of the fossil-fueled climate chaos, this week, the California State Senate will vote on Senate Bill 1173 (Gonzalez…