Press Releases

California public pension divestment bill building momentum; passed Senate Labor and Judiciary Committees

April 18, 2023

SACRAMENTO | Today, SB 252 – a widely-supported bill for CalPERS and CalSTRS to phase out fossil fuel investments – is expected to pass its second Committee hearing in the California State Senate at the Senate Judiciary Committee.

California fossil fuel divestment bill passes first Senate Committee hearing

April 12, 2023

Today, SB 252 – a widely-supported bill for CalPERS and CalSTRS to phase out fossil fuel investments – passed its first Committee hearing in the California State Senate. On Tuesday, April 18, the Senate Judiciary Committee is set to hear the bill.

California public pension divestment bill – SB 252 – goes before the Senate Labor Committee

April 10, 2023

On Wednesday, April 12th, the Senate Labor, Public Employment and Retirement Committee will vote on SB 252, which will divest CalPERS and CalSTRS by 2030. If passed, the bill will then progress to the Senate Judiciary Committee on Tuesday April 18th. These hearings come as Californians experience intensifying fires, deadly heat, and deepening drought.

California State Treasurer Fiona Ma Supports Fossil Fuel Divestment Bill

March 22, 2023

California has an opportunity to again lead on climate issues, energizing the global advocacy effort and ensuring the long-term sustainability of retiree pensions. This legislation gives our pension funds the necessary time to prudently plan for divestment, including identifying suitable investment alternatives” – Fiona Ma

SB 252 announced to divest California’s public pensions from oil and gas

January 30, 2023

Student-led movement celebrates launch of California Fossil Fuel Divestment Act January 30, 2023 Contacts:  Event Livestream Recording: Senator Gonzalez’s Office | YouTube Permalink Event Photos | Fossil Free California Photos California — Today amidst devastating flooding, an historic mega-drought, wildfires, and fossil-fueled public health crises, students, retirees, and California communities across the state celebrate as…

Fossil fuel-funded cop kills California climate legislation

June 21, 2022

The California Fossil Fuel Divestment Coalition promises to return with similar legislation next year, and will turn up the pressure directly on CalPERS and CalSTRS to divest from fossil fuels.

New report reveals California pensions CalPERS, CalSTRS vote NO on Big Oil shareholder climate resolutions

June 8, 2022

The retirement systems’ failed shareholder engagement efforts with fossil fuel companies has cost their members $11.9 billion in returns California — A report released today from Fossil Free California reveals that California’s public pensions voted to oppose climate action at major fossil fuel companies and financiers during the 2022 Annual General Meeting season. This exposé…

California Senate passes fossil fuel divestment bill

May 25, 2022

California communities celebrate growing momentum around pension divestment California — Today amidst increasing drought and water crisis, wildfires, and tangible impacts of the fossil-fueled climate chaos, the California State Senate passed Senate Bill 1173 (Gonzalez and Wiener), California’s Fossil Fuel Divestment Act, which would require the state’s public pension funds to divest from fossil fuels.…

California Senate expected to vote on fossil fuel divestment this week

May 25, 2022

California — Amidst increasing drought and water crisis, wildfires, and tangible impacts of the fossil-fueled climate chaos, this week, the California State Senate will vote on Senate Bill 1173 (Gonzalez and Wiener), California’s Fossil Fuel Divestment Act, which would require the state’s public pension funds to divest from fossil fuels. The California Public Employees’ Retirement…

Report reveals CalPERS, CalSTRS exaggerate cost of divestment

May 10, 2022

New report exposes pattern of misinformation on fossil fuel divestment from two largest public pension funds in U.S. (California) — A first-of-its-kind comprehensive report released today from Fossil Free California reveals that the combined $800 billion California Public Employees’ and State Teachers’ Retirement Systems have repeatedly given incorrect and inflated figures on the costs of…