Supported by The Climate Center

SB 1173: Public retirement systems – fossil fuels – divestment

California State Capitol Building Sacramento by Christopher Padalinski
California State Capitol Building Sacramento by Christopher Padalinski

SB 1173 (Lena Gonzalez and Scott Wiener) A fossil fuel divestment bill. SB 1173 would prohibit the boards of the Public Employees’ Retirement System (CalPERS) and the State Teachers’ Retirement System (CalSTRS) from making new investments or renewing existing investments of public employee retirement funds in fossil fuel corporations. Read The Climate Center’s Letter of Support. Read the author factsheetSTATUS: DEAD. Approved May 25 in the Senate; double-referred to the Assembly Judiciary Committee and Public Employment and Retirement Committee. Jim Cooper, Chair of the Assembly Retirement committee used his power to unilaterally remove SB1173 from the committee agenda thereby killing it.