Gavin Newsom tells CalPERS, CalSTRS to favor green investments in climate change order

by Adam Ashton, Sacramento Bee

Gov. Gavin Newsom on Friday signed an executive order to leverage the might of California’s $700 billion public pension funds and the state’s purchasing power as a highway builder in a campaign to reduce greenhouse gas emissions.

Newsom’s order caps a week in his administration fought with Trump administration over the state’s authority to regulate greenhouse gas emissions through the California Air Resources Board, and in which the $83 billion University of California Retirement Plan announced that it would divest from fossil fuels.

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