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Resolution passed by California Faculty Association East Bay Chapter • Adopted May 18, 2015
CalPERS: Divest from Fossil Fuels

Resolution supporting the petition calling on the California Public Employees’ Retirement System (CalPERS) to divest from the 200 largest fossil fuel corporations

Whereas, climate change is the most critical economic and environmental justice issue of our time,

Whereas, climate change has the potential for dire consequences for the world’s ecosystems and all living things;

Whereas, the continued rate of consumption of fossil fuels will lead to catastrophic impacts on future generations;

Whereas, organized labor has been an active participant in the leadership of the climate justice movement;

Whereas, divestment is a powerful grass-roots tool to encourage actions that support equity, justice, and sustainability;

Whereas, it has been demonstrated that financial portfolios divested from fossil fuels perform as well or better than those that include fossil fuels;  

Whereas, “stranded assets” (fossil fuels that will need to stay in the ground) will adversely impact financial portfolios;

Whereas, divestment from fossil fuels is a moral imperative for CalPERS members who care deeply about the fate of the planet;

Whereas, CalPERS members do not want our money invested in ways that contribute to global climate destabilization;

Be it Resolved that we, as current and future retirees, urge CalPERS to immediately freeze new investments in fossil fuels, and divest completely from the 200 largest fossil fuel corporations within the next five years.

And, we call on the members of CFA, East Bay Chapter, to sign the attached petition to be presented to the CalPERS Board of Administration.

And, we call on the Academic Senate of CSU East Bay to pass a similar resolution and recommend faculty at CSU East Bay sign the attached petition to be presented to the CalPERS Board of Administration.

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