public pensions Archives - Fossil Free California

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

By Shana DeClercq | 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.

California Pensions Fail to Engage: A review of CalPERS’ and CalSTRS’ votes against shareholder climate resolutions

By CJ Koepp | June 8, 2022

Fossil Free California June 2022 Issue titled California Pensions Fail to Engage

Read the full report. As the impacts of climate change begin to wreak havoc on our bisophere, the fossil fuel divestment movement has gained remarkable momentum. Globally, 1,500 institutions representing…