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Blog

February 7, 2018

A recent nine-page report published in Ecological Economics uses shaky methodology to claim that fossil fuel divestment would not lead to financial costs for a portfolio, alleging instead that energy stocks provide “limited” diversification benefits and “do not outperform other stocks on a risk-adjusted basis.” This conclusion, of course, is in stark contrast to the …

February 7, 2018

During this year’s New York State Employee Conference one message came through loud and clear: New York State public employees do not want their pension fund to bear the cost of a misguided fossil fuel divestment scheme.   Lucky for them, their pensions are under the watchful eye of State Comptroller, Tom DiNapoli, who – in …

January 31, 2018

A new op-ed in The Hill details the many reasons why pension funds and universities have been — and should continue to— steer clear of a fossil fuel divestment policy.  Signed by Jeff Eshelman of the Independent Petroleum Association of America, the piece not only highlights how fossil fuel divestment conflicts with a manager’s fiduciary …

January 30, 2018

In response to this year’s State of the Union address, activists will be meeting again to push what they view as the solution to the administration’s energy policies: divesting from fossil fuels. By their logic, a robust divestment movement will “restrict the social license” of energy companies to operate and “end the use of fossil …

January 30, 2018

New York City scored plenty of headlines earlier this month when Mayor Bill de Blasio along with Comptroller Scott Stringer announced that the city was “divesting” $5 billion from fossil fuels.  As Divestment Facts already pointed out, the announcement was nothing more than a promise to begin the process of examining divestment among New York’s …

January 25, 2018

In a stunning defeat for the divestment movement, the San Francisco Employees Retirement System (SFERS) opted out of full divestment at a Retirement Board meeting this week, upsetting activists who continue to see rejections in blue cities and states.  As the San Francisco Chronicle states, the move “disappoints activists” while the San Francisco Examiner – …

January 23, 2018

As the San Francisco Employees Retirement System (SFERS) Retirement Board prepares to vote tomorrow on a resolution to divest the fund from fossil fuel holdings, the Chief Investment Officer for SFERS, William Coaker Jr., and its independent economic consultants, NEPC, have released new memos recommending the Board reject the divestment proposal. NEPC writes: “It is …

January 23, 2018

Last week’s Financial Times editorial pulled no punches when describing the inherent hypocrisy of New York City’s fossil fuel divestment announcement.  Noting that the decision was more about political grandstanding than taking any real action to support the environment, the FT highlighted some tangible actions the Big Apple could take in lieu of empty gestures …

January 22, 2018

On Wednesday, the San Francisco Employees’ Retirement System (SFERS) is holding a special meeting where they are expected to finally vote on whether or not to divest the city’s pension fund from the Carbon 200 within 180 days. While the Retirement Board staff and its economic consultants have both recommended against fossil fuel divestment and …

January 10, 2018

The Associated Press reports that New York City is reengaging the topic of divestment, with the Mayor making a call for the effort and Comptroller Stringer pushing the funds to pursue the costly, ineffective investment strategy over the next four years. Notably, the media reports the Mayor will be standing side by side with controversial …