In December 2025, the California Scholarshare Board replaced an underperforming fund in their Environmental Social Governance (ESG) portfolio with a virtually fossil fuel free fund - thank you!

Following a year of parental and community demands for a fossil free Scholarshare option, the Scholarshare staff and board used a fossil free fund filter in their selection criteria for a new fund. The final selection has no fossil fuel companies and only limited indirect exposure to fossil fuels through finance and utility companies. As a result, parents and students can now save for college in a fund with less than 0.5% exposure to fossil fuels. More importantly, the Scholarshare team in the Treasurer’s office is demonstrating their commitment to working with us to create college savings options that protect our students and their savings from the health impacts and pollution of fossil fuels, and the related financial risk.

We will continue to advocate that all funds which make up the Environmental Social Governance (ESG) option are fossil free to ensure that Californians can access an enrollment year investment option that maximizes earnings as you near college age and benefits society and our environment by being fossil fuel free.