California Lawmakers Seek to Divest Public Pension Funds From Fossil Fuel

California Lawmakers Seek to Divest Public Pension Funds From Fossil Fuel
Oil pumpjacks in the Inglewood Oil Field in Los Angeles, Calif., on Jan. 28, 2022. Mario Tama/Getty Images
Jill McLaughlin
Updated:

A bill requiring California’s two largest public pension funds to divest from fossil fuel companies is quickly making its way through the state Legislature despite opposition from the state funds.

Senate Bill 252, introduced by state Sens. Lena Gonzalez (D-Long Beach), Henry Stern (D-Calabasas), and Scott Wiener (D-San Francisco), would prohibit the boards of California Public Employees’ Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalSTRS) from making new investments or renewing investments in fossil fuel companies.
Jill McLaughlin
Jill McLaughlin
Author
Jill McLaughlin is an award-winning journalist covering politics, environment, and statewide issues. She has been a reporter and editor for newspapers in Oregon, Nevada, and New Mexico. Jill was born in Yosemite National Park and enjoys the majestic outdoors, traveling, golfing, and hiking.
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