Vote YES to Divest: Support the Fossil Fuel Divestment Act

California Legislature

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 1173—would require CalPERS and CalSTRS to divest from fossil fuels in the next five years. Teachers and state employees agree: our retirement savings shouldn't be used to capitalize the fossil fuel industry. Sign on to show your support!

To: California Legislature
From: [Your Name]

I am writing in support of SB-1173, the Fossil Fuel Divestment Act, to 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 from any current holdings by 2027.

We have experienced unprecedented and continuing wildfires, droughts, flooding and other extreme weather events. Yet even 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, the low-income communities of color where most oil and gas infrastructure is located, and Indigenous communities.

CalSTRS and CalPERS have nearly $9 billion invested in fossil fuel producers. An independent study done by Corporate Knights found that if CalSTRS and CalPERS had divested in 2009, they would have gained $5.5 and $11.9 billion (respectively) by 2019. During the past seven years, the fossil fuel industry has had the highest risk of all industries across the stock market and was the only sector to lose value.

Divestment is the surest way for CalPERS and CalSTRS to achieve their missions and fulfill their fiduciary duties. Please vote YES to divest and support SB-1173!