To: The Virginia General Assembly

Divest the Virginia Retirement System from Fossil Fuels

Divest the Virginia Retirement System from Fossil Fuels

Pass legislation requiring the Virginia Retirement System to:
1. immediately cease making new investments in in the top 200 fossil-fuel companies, as identified by Carbon Tracker and updates;
2. promptly pursue responsible alternative investments in a public and transparent manner;
3. and within five years, divest from equities, bonds and commingled funds that include the top 200 fossil-fuel companies & updates.

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 has been demonstrated that if more than 20% of the known reserves are consumed, the climate impacts will adversely affect all aspects of society. Their business model is in conflict with life on Earth. 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.

Virginia, United States

Category


Reasons for signing

  • Why doesn't everyone sign?
  • As VRS beneficiary I hold the system accountable for preserving the future for our children and grandchildren.

Updates

2015-12-01 22:04:26 -0500

350 Loudoun participated in the pre-Paris Talks Global Climate March on Sunday, November 30, 2015 by conducting a banner drop in Leesburg. The banner read: "Act, Vote, Lead on Climate Change!" A post-Paris Talks banner drop will be conducted on Saturday, 12/12, 2:30 - 4:30 pm at the River Creek Parkway Rt. 7 overpass. Park at Wegmans. Check it out on: https://www.facebook.com/350Loudoun/. Scroll down to the 2nd post to see photos and a press release.

2015-05-11 12:57:45 -0400

100 signatures reached

2015-03-03 09:27:11 -0500

50 signatures reached

2015-02-25 13:07:52 -0500

25 signatures reached

2015-02-22 08:46:26 -0500

10 signatures reached