On Friday, June 12, the Investment Committee of the California State Teachers’ Retirement System (CalSTRS) meets in West Sacramento. We will rally at CalSTRS headquarters to urge that the committee begin the process of divestment from fossil fuels.
It’s time for CalSTRS to fulfill its stated “Investment Policy for Mitigating Environmental, Social, and Governance Risks." That policy calls for the fund, before investing in a company, to examine how that company "is dealing with the impact of climate change, including whether the government [of the company] is taking steps to reduce its impact, exacerbating the problem, or oblivious to the risk."
Clearly, companies that traffic in oil, coal, and gas are exacerbating the problem of climate change, and they are oblivious to the risk. Therefore, CalSTRS should not invest in such companies. For the sake of our teachers and for the sake of our children, we urge the Investment Committee and the board to purge its investments of fossil fuels. It is safer for the CalSTRS portfolio—it is safer for the Earth—to divest.
100 Waterfront Pl
West Sacramento, CA 95605
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