A new study shows that fossil fuel investments dramatically underperformed for CalSTRS, CalPRS and individual retirees over the last 10 years.
Legislation to force California’s large and public employee pension funds to divest from the top oil and gas companies is a financially prudent move in a world where the impacts of climate change are intensifying.Scientists and environmentalists also began talking with California’s big retirement funds, CalPRS and CalSTRS, 10 years ago, and they got the same answer: We will hold on to our shares and engage with the oil companies.
That’s because, along with being actively bad for the planet, fossil fuel has been actively bad for its shareholders. It dramatically underperformed other asset classes for the past decade, and for an obvious reason: A new industry, renewable energy, has arisen that delivers the same product, just more cheaply and cleanly.
It’s actually relatively easy for the Church of England and California pension funds to make this decision now because so many have paved the way. Almost every elite university — the
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Supreme Court rejects independent state legislature theory in major election law caseBREAKING: The Supreme Court declined to limit the authority of state courts to nullify federal election rules set by state legislatures.
Leer más »
Supreme Court rejects fringe elections theoryBREAKING: The Supreme Court rejects the fringe, GOP-backed 'independent state legislature' theory in a 6-3 opinion authored by Chief Justice John Roberts, writes Jordan_S_Rubin.
Leer más »
Supreme Court rejects GOP-backed effort to transform U.S. electionsThe Supreme Court rejects the fringe, GOP-backed 'independent state legislature' theory in a 6-3 opinion authored by Chief Justice John Roberts, writes Jordan_S_Rubin.
Leer más »
SCOTUS Sides With Democracy in Moore v. HarperThe Supreme Court just decided a case at the center of efforts to overturn the 2020 election, and it’s more bad news for Trump.
Leer más »
Supreme Court rejects unchecked state legislature power over federal election rulesThe Supreme Court delivered a strong rejection of a controversial legal theory that threatened to upend state election laws nationwide and give state legislatures unchecked power over federal election rules in the case Moore v. Harper.
Leer más »
California sheriff blasted for joining Gov. Ron DeSantis’ border ‘coalition’Immigrant rights advocates are denouncing Riverside County Sheriff Chad Bianco for signing a letter promoted by Republican presidential hopeful and Florida Gov. Ron DeSantis that calls for tighter …
Leer más »