Divestment rips $5 billion out of public pension funds

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alifornia’s public pension funds lost $5 billion last year through declines in their fossil fuel investments, according to a new report from Trillium Asset Management.

The losses for CalPERS and the California State Teachers’ Retirement System were largely due to the price of coal and oil falling between July 2014 and June 2015, the group found. The report comes amid increasing calls — and proposed legislation — for fossil fuel divestment.

Read the ClimateProgress story - “California Lost $5 Billion In Public Pension Funds Billion Due To Fossil Fuel Investments Last Year.”