California’s cities and counties have important roles to play in the divestment movement. Since pension funds are major holders of fossil fuel stocks, and state and local government workers depend on those funds for retirement security, municipalities have a real interest in the nature of the funds’ investments.

California is a pension fund powerhouse. The California Public Employees Retirement System, or CalPERS, has more than 1.9 million members and retirees in California, from about 3,000 public agencies and school district employers. It is the largest public pension fund in the U.S. The California State Teachers Retirement System (CalSTRS), with more than 933,000 members, is the largest educator-only pension fund in the world—and the second largest public pension fund in the country. A number of large cities, including San Francisco, Los Angeles, and San José, have their own pension funds.

Around the state, city councils and county boards of supervisors are considering, and passing, resolutions or policies urging these funds to divest from fossil fuel stocks. Their instructions to CalPERS/STRS can take a variety of forms.

Divestments from Banks

California cities are also divesting from banks and businesses involved in fossil fuels projects such as pipelines and tar sands.

For more information on municipal divestments from banks, visit MazaskaTalks.org.

Divestments from Fossil Fuels

CalPERS Members

"Support legislation to limit or eliminate direct investment of public funds to support the production or drilling of fossil fuels."

Municipalities With Own Pension Funds

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