To: Sunnyvale City Council

Divest Sunnyvale From Fossil Fuels

Divest Sunnyvale From Fossil Fuels

While City employees have their pension investments through the state run CalPERS system that would cost a couple hundred million to leave, the City must pass a resolution to request that CalPERS divest the city's retirements funds from the top 200 worst fossil fuel companies. Sunnyvale must also divest within 1 year any city held funds from corporations, such as the TVA, that inundated the Tennessee countryside with coal ash, banks, such as Bank of America that finance coal extraction, or mutual funds, that support fossil fuel extraction, processing, and consumption.

Why is this important?

We need to eliminate our support for the use of fossil fuels in order to reduce the coming climate catastrophe due to global warming. For example, NASA's Ames Research Center is close to sea level and a rise in sea levels will lead to massive flooding. We have made a good start by our strict building codes. Let's take the next step by defunding fossil fuels.

Sunnyvale, CA

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Reasons for signing

  • The city has not passed a CAP (climate action plan) to date. Divestment from the worst fossil fuel companies would be a great step in that direction. Let's set an example, Sunnyvale.
  • Walk the talk !
  • We cant burn 4/5 of the fossil fuels already discovered and on the their books as assets. If we success in forcing them to keep most of this in the ground, their stocks are going to get hammered.

Updates

2015-01-06 01:26:38 -0500

50 signatures reached

2013-08-29 15:47:25 -0400

25 signatures reached

2013-07-24 20:28:59 -0400

10 signatures reached