I Support the Fossil Fuel Divestment Act

California Legislature

Photo of rally. Marchers are walking down a wide street, holding signs which read, "100 Percent Renewable For All," "Divest from Death," "Defend Line 3" and "CalSTRS DIVEST NOW."

California has been a world leader in combating the climate crisis, but our public pension funds are actively investing billions of dollars in the very fossil fuel companies driving climate chaos. CalPERS and CalSTRS, which invest the retirement savings of state employees and teachers, have a combined $9 billion propping up the industry driving environmental racism, devastating wildfires, and the destruction of our biosphere.

The Fossil Fuel Divestment Act—SB 252—would prohibit CalPERS and CalSTRS from investing in fossil fuel companies. Teachers and state employees have made their voices heard: our retirement savings shouldn't be used to capitalize the fossil fuel industry.

Sign on as an individual to show your support!

To: California Legislature
From: [Your Name]

I support SB 252, the Fossil Fuel Divestment Act (Gonzalez), which will prohibit the California Public Employees Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalSTRS) from investing in fossil fuel companies, and require that they divest any current investments by 2030.

We have experienced unprecedented and continuing wildfires, droughts, flooding and other extreme weather events. Yet, as the state of California burns, teachers’ and public employees’ retirement money is still being invested in climate chaos. If carbon emissions aren’t drastically cut in the next 10 years, there is virtually no chance of avoiding climate disasters that will lead to mass death and displacement. CalSTRS’ and CalPERS’ continued investment in fossil fuels is physically and mentally damaging to students, retirees, and public employees.

The climate crisis affects all of us, but is especially harmful to young people and to the low-income communities of color where most oil and gas infrastructure is located and to Indigenous communities. For example, oil refineries in the San Francisco East Bay have caused repeated fires and explosions, and subjected local communities to unhealthy levels of air pollution and health-related stress.

CalSTRS and CalPERS have almost $11 billion invested in fossil fuel producers. A Corporate Knights study found that between 2009 and 2019 if CalPERS and CalSTRS had divested they would have gained $11.9 and $5.5 billion respectively. During the past seven years, the fossil fuel sector had the highest risk of all sectors, and was the only sector to lose value. Divestment is entirely consistent with CalSTRS’ and CalPERS’ missions and fiduciary duties.