The California Public Employees' Retirement System (CalPERS), the country's largest public pension fund, has committed to investing $100 billion in climate solutions. BUT, a public records request revealed that this fund includes numerous fossil fuel investments including Chevron, BP, Shell, Marathon, Exxon, and many other global fossil fuel giants. Oil companies are fueling the climate crisis, they are NOT a climate solution.
A public records request showed that over 14% of CalPERS' Climate Solutions portfolio is invested in the 100 worst greenhouse gas emitters. This includes $7.1 million in Chevron, $4.3 million in Marathon, and $3.5 million in Valero all classified falsely as climate solutions.
Join us in demanding CalPERS stop greenwashing and invest in real climate solutions. They must be transparent about their investments and remove Big Oil and top climate polluters from its climate solutions fund portfolio. CalPERS must ensure these investments benefit communities and the climate.
CalPERS must divest its climate solutions fund from fossil fuels.