Bill > SB252

This bill would prohibit the California Public Employees' Retirement System (CalPERS) and the California State Teachers' Retirement System (CalSTRS) from making new investments or renewing existing investments in fossil fuel companies. The bill would require these pension funds to liquidate their investments in fossil fuel companies by July 1, 2031, with a temporary suspension of this requirement if the board determines that conditions materially impact normal market mechanisms for pricing assets. The bill would also require the boards to report annually on their progress in divesting from fossil fuel companies and analyze methods to reduce dependence on fossil fuels. The bill aims to align the state's public pension investments with California's broader efforts to transition to clean energy and mitigate the impacts of climate change.

Budget and Finance, Justice, Labor and Employment

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202320240SB252