10 signatures reached
To: California State Treasurer, Bill Lockyer
Divest California From Fossil Fuels
The California State Treasury should immediately freeze any new investments in fossil fuels, and divest from direct ownership and any commingled funds that include fossil fuel public equities and corporate bonds within 5 years
Why is this important?
We are concerned with the moral and economic issues around being invested in companies that contribute to climate change. Climate change is ravaging our state, nation and planet with more wildfires, drought, higher food prices and extreme weather events. While climate change is severely impacting our quality of life now, it is young people whose future ability to thrive - and even survive - on our planet will be most impacted.
This would not be the first time Bill Lockyer has used California's investments to induce change or send a message. In April 2013 it was announced that The California State Teachers' Retirement System will now sell holdings in two publicly traded gunmakers Sturm, Ruger & Co and Smith & Wesson Holding Corp. The investments are worth about $3 million. Lockyer sits on the board of the fund, best known as Calstrs, and also pressed it to divest holdings in manufacturers of high-capacity ammunition magazines that are illegal for the general public in California.