Adopt a resolution for the Virginia Retirement System to divest from fossil fuel public equities and corporate bonds.
Why is this important?
The Virginia Retirement System (VRS) has the fiduciary responsibility to invest public employee retirement savings in enterprises that do not undermine the future health and safety of those same employees. The fossil fuel industry's business objectives are to extract all known fossil fuel reserves and continue to explore for new reserves. It is known that if more than 20% of the known reserves are extracted and burned, the climate impacts will adversely affect all aspects of society. It is unconscionable for the VRS to invest in corporations that threaten the health and welfare of VA’s public employees and all VA residents.
