California Fossil Fuel Divestment Act
SB 252 would have divested the state’s public pension funds (CalSTRS and CalPERS) from fossil fuel investments, prohibiting investment in the top 200 fossil fuel companies by 2027, which currently make up less than 2% of the fund. Divesting is not only a matter of staying true to California’s values of a sustainable future — it is a financially prudent choice to protect our state’s public pension funds from risky and volatile fossil fuel industry investments, which have been shown to hurt teachers' and public employees' retirement returns in teachers’ retirement funds. This bill was a cornerstone of the Climate Corporate Accountability Bill package.
Issues: Clean Energy Economy
Not signed into Law
Top Priority Bill
Passed the Senate, but failed to pass the Assembly Public Employment and Retirement Committee