CalPERS, CalSTRS Dislike Divestment As Dakota Access Pipeline Reignites Debate

Reporter Ed Mendel covered the Capitol in Sacramento for nearly three decades, most recently for the San Diego Union-Tribune. More stories are at Calpensions.com. A bill that began life as a requirement that CalPERS and CalSTRS divest holdings in Dakota Access Pipeline firms emerged from a legislative committee last week reborn — a requirement that … Continue reading CalPERS, CalSTRS Dislike Divestment As Dakota Access Pipeline Reignites Debate

Majority of Pensioners Don’t Support Divestment: Survey

A new survey says that 64 percent of pensioners in the U.S. want their pension fund portfolio’s focus to be only on maximizing returns, and 55 percent don’t want the portfolios to be politicized. The survey was notably sponsored by the Independent Petroleum Association of America – an oil and natural gas trade group who … Continue reading Majority of Pensioners Don’t Support Divestment: Survey

CalPERS to Review Divestment Policy

In light of a consultant report showing CalPERS may have lost out on $2 billion in investment gains since divesting from tobacco-related assets 15 years ago, the pension fund announced on Monday it would review its divestment policy. The review includes consideration of whether to re-invest in tobacco. From CalPERS: The California Public Employees’ Retirement … Continue reading CalPERS to Review Divestment Policy

Vermont Gov. Pitches Coal, Oil Divestment to Pension Committee

Vermont Gov. Peter Shumlin on Tuesday morning attempted to persuade the Vermont Pension Investment Committee to divest from investments related to coal, as well as its ExxonMobil holdings. The Committee currently opposes divestment. More details on Shumlin’s presentation, via Vermont Business Magazine: Financial Institutions Agree, Coal is a Bad Investment – Large financial institutions such … Continue reading Vermont Gov. Pitches Coal, Oil Divestment to Pension Committee

Dutch Pension Announces Fossil Fuel Divestment

PFZW, the pension fund that covers the Netherlands’ healthcare workers, announced on Tuesday its plans to divest from coal and fossil fuel holdings over the coming years. It is one of the largest institutional investors yet to voluntarily begin dropping its investments linked to fossil fuels. From Reuters: Citing the need to invest in a … Continue reading Dutch Pension Announces Fossil Fuel Divestment

CalPERS Consultant: Divestment Has Cost Fund Billions

CalPERS on Monday began the process of divesting from its thermal coal holdings, as required by a law signed this month by California Gov. Jerry Brown. There is much debate over whether divestment is effective – both in terms of the battle against climate change, and the maximization of investment returns. When it comes to … Continue reading CalPERS Consultant: Divestment Has Cost Fund Billions

California Gov. Signs Bill Mandating Coal Divestment for CalPERS, CalSTRS

California Gov. Jerry Brown on Thursday signed SB 185 into law; the measure forces the two state pension funds – CalSTRS and CalPERS – to begin selling their stakes in companies that earn a majority of their revenue from coal mining. The funds have until July 1, 2017 to divest entirely from such companies. More … Continue reading California Gov. Signs Bill Mandating Coal Divestment for CalPERS, CalSTRS

NY City Mayor Pitches Pension Funds on Coal Divestment

New York City Mayor Bill de Blasio this week plans to approach the city’s pension funds about divesting from their coal holdings. The five funds, which collectively oversee $160 billion in assets, would be the latest institutional investors to sell off coal investments – closely following the University of California’s decision to do so earlier … Continue reading NY City Mayor Pitches Pension Funds on Coal Divestment

California Lawmakers Pass Bill Mandating Coal Divestment For CalPERS, CalSTRS

California lawmakers on Wednesday passed a climate bill that will force the nation’s two largest pension funds, CalPERS and CalSTRS, to exit coal investments. The bill, SB-185, gives the funds until mid-2017 to divest. It also prohibits the funds from making new investments in thermal coal companies. The bill now heads to state Gov. Jerry … Continue reading California Lawmakers Pass Bill Mandating Coal Divestment For CalPERS, CalSTRS

Dutch Pension to Outside Money Managers: Fully Disclose Fees or Face Divestment

One of the Netherlands’ largest pension funds is giving its outside money managers an ultimatum: fully disclose their fees or face divestment. Dutch fund PGGM, which manages over $200 billion in assets, says it no longer wants to turn a “blind eye” to potentially high fees. But it also acknowledges that its private equity investments … Continue reading Dutch Pension to Outside Money Managers: Fully Disclose Fees or Face Divestment