Fossil fuel divestment bill dies in California Legislature by Chastity Hale
Appeared in the San Francisco Chronicle on June 22, 2022
Gina's Thoughts
"At a time when there is so much financial uncertainty and people are struggling to make ends meet, now is not the time to consider political divestment proposals that hurt the financial security of California's pension systems." A bill that would have forced both the California Public Employees' Retirement System (CalPERS) and the California State Teachers' Retirement System (CalSTRS) to divest from fossil fuel companies died in the Assembly on Wednesday after it was pulled by the Committee chairman. InvestNow would argue that it is never a good time to consider political divestment proposals that hurt the financial security of university endowment funds, pension funds, investment funds and everyday Canadians.