Tues 5/22: Make large retirement funds acknowledge the risks of climate change. Due 5/24!

(Shared from Indivisible Berkeley)

SB-964 Public Employees’ Retirement Fund and Teachers’ Retirement Fund: investments: climate-related financial risk.

Minimal Script:

“Hi, my name is (name) and I live at (street,city and zip). I am very worried about climate change and the harm it is causing. I am calling to urge the Committee to move SB 964 to a vote in May, so it can proceed to the full Senate. By requiring CALPERS and CALSTRS to consider climate-related financial risk for all their investments, this bill should prod all companies to calculate their financial risk from climate change. Because SB 964 requires that CALPERS and CALSTRS publicly report on the climate related financial risk of all the companies in its portfolios this bill will also focus public attention on the economic damage fossil fuels are creating and the importance of transitioning away from fossil fuels as fast as is feasible.”

Send your comment to Committee Analyst:
Robert Ingenito
robert.ingenito@sen.ca.gov

Background

CALPERS is the largest public pension plan in the country and CALSTRS is the second largest. Together their portfolios are worth $560 billion. Their size gives them tremendous influence. More and more data is becoming available making it possible to link fossil fuel companies to their share of climate change. Several lawsuits, Continue reading “Tues 5/22: Make large retirement funds acknowledge the risks of climate change. Due 5/24!”