Divestment from of the Fossil Fuel Industry
California has been a touted as a global climate leader, yet California’s enormous public pension funds are actively investing billions of dollars in the very fossil fuel companies that are causing the climate crisis. SB 1173 would have prohibited CalPERS and CalSTRS, the state’s retirement funds for public employees and teachers, from investing in the top 200 fossil fuel companies and require that they divest any current investments in those fossil fuel companies by 2027.
Issues: Clean Energy Economy
Not signed into Law
Passed the Senate, but failed to pass the Assembly