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San Francisco Pension Votes to Engage With Fossil Fuel Companies Over Climate Change; Next Step Could Be Divestment

The Board of the San Francisco Employees’ Retirement System (SFERS) voted Wednesday to begin engaging with the fossil fuel companies in which it invests. The vote opens the door for an eventual vote on divesting from fossil-fuel companies altogether – an idea that is sure to receive mixed reviews from board members and city officials. The pension ...
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CalPERS, CalSTRS Responds To Push For Coal Divestment

California Senate President Kevin de León said on Monday he would introduce a bill in 2015 that would require CalPERS and CalSTRS to divest from coal-related investments. CalPERS was the first of the funds to publicly respond to the bill. Summarized by Chief Investment Officer magazine: CalPERS responded strongly to the proposal, stating that “we ...
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Britain Secretary of Energy: Investing in Fossil Fuels Big Risk for Pension Funds

Last week the advisory board of one of the largest asset owners in the world, the $857.1 billion Norway Pension Fund Global, concluded that divesting from fossil fuels would be an unwise financial decision that would reduce returns. But Edward Davey, Britain’s Secretary of State for Energy and Climate Change, said Monday he thinks fossil fuel companies ...
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Washington Pension Board Declines to Divest From Fossil Fuels

The Washington State Investment Board (WSIB), the entity that handles investments for the state’s pension systems, at its latest board meeting weighed whether to divest from fossil fuel-based companies. The Board ultimately decided against divestment. But the members said they would continue to evaluate whether climate change posed any risk to pension ...
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Vermont Fund May Become First To Hit Gas On Fossil Fuel Divestment

Vermont Gov. Peter Shumlin had previously been against the state’s pension fund divesting from fossil fuel companies. Shumlin talked to the Associated Press about divestment last November: “I believe that by keeping a seat at the table and by encouraging smart investments, we can make progress towards a cleaner, greener economy while still ...
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