Letters to the Editor: Fossil fuel divestment doesn't make sense for retirees or the climate (via latimesopinion )
Divestment is a blunt instrument that would neither reduce emissions nor limit fossil fuel production, but it would restrict the California State Teachers’ Retirement System’s ability to fulfill our mission to secure the financial future of California’s public school teachers.
Rather than divestment, which essentially transfers shares to other investors who may be unwilling to engage companies about climate change, CalSTRS is actively committed to achieving net-zero emissions across our portfolio, in alignment with state and federal goals.The writer chairs the investment committee of the California State Teachers’ Retirement Board.Thanks to The Times for its continuing coverage of climate change, the greatest existential crisis in human history.
As a retired teacher, my pension includes both CalSTRS and CalPERS. I urge the California Teachers’ Assn. and my state representatives to support Senate Bill 252, which would require divestment from the largest fossil fuel companies by 2031.Margaret Baker Davis, La VerneRetirement-fund divestment is essential, but many forget that we practice another kind of planet-wrecking investment with every trip to the pump.
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