Advocates for divesting California’s major public pension plans from fossil fuels say they will keep pushing next year for a bill that has stalled amid division between labor unions.
The bill (S.B. 252) would have required the California Public Employees’ Retirement System and California State Teachers’ Retirement System to liquidate existing investments in fossil fuel companies by July 1, 2031.
The pension systems would have also been prohibited from making any new investments or renewing existing investments in fossil fuel companies. Bloomberg News reported Monday the measure would not get a vote by the full Assembly this year; ...
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