Join us to attend the hearing on Monday, April 13, of the California State Senate Public Employment and Retirement Committee. The committee is considering SB 185, a bill to mandate that the two large state pension funds divest from coal companies. This is an important first step toward complete fossil fuel divestment by the California Public Employees' Retirement System (CalPERS) and the California State Teachers' Retirement System (CalSTRS), and we are asking for a big turnout to support the bill.
The bill, titled "Public Divestiture of Thermal Coal Companies Act," is sponsored by Senate President Pro Tem Kevin de León, and requires divestment of companies that mine coal. It also instructs the pension funds' administrators to conduct a "comprehensive assessment of the feasibility and implications of divesting the retirement system funds of additional fossil fuel investments, such as natural gas and petroleum," thus paving the way for more extensive divestment in the near future. The bill is part of a package of four climate-related bills proposed by Governor Jerry Brown and currently making their way through the legislature. You can find more information at Fossil Free California.
Coal is a bad investment for California—and for the Earth!
1315 10th L St
Rose Ann Vuich Hearing Room (2040)
Sacramento, CA 95814
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