Learn about the official release of a new report by Corporate Knights that finds that Colorado’s pension fund, PERA, is valued at $2.7 billion less than it would have been had it divested from fossil fuels a decade ago.
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Once a sound investment strategy, the coal, oil and gas sectors have lost their financial rationale while the case for divestment has proven financially sound and a path for effective climate action, according to a new Institute for Energy Economics and Financial Analysis (IEEFA) report.
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In the wake of PERA’s recent decision to divest from Russian banks, Colorado’s Fossil Free PERA has submitted a formal appeal to PERA to divest from Russian oil and gas companies. According to Stand.earth’s recent report, Colorado’s PERA currently has at least $8.4 Million in at least five Russian oil and gas companies.
In November, members of the Fossil Free PERA Coalition and legislative champions met with PERA Director, CIO and Director of Government and Public Affairs to discuss the issue of fossil fuel divestment.
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Ten years in, the divestment movement has grown to become a major global influence on energy policy. There are now 1,485 institutions publicly committed to at least some form of fossil fuel divestment, representing an enormous $39.2 trillion of assets under management. That’s as if the two biggest economies in the world, the United States and China, combined, chose to divest from fossil fuels.
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From the International Energy Agency: World’s first comprehensive energy roadmap shows government actions to rapidly boost clean energy and reduce fossil fuel use can create millions of jobs, lift economic growth and keep net zero in reach.
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Divesting from fossil fuel stocks doesn’t necessarily mean that those funds must go into renewables, but evidence is growing that it’s not such a bad idea. Over the last decade, the Morgan Stanley Capital International fossil-free index of global equities has outperformed the MSCI that includes fossil fuels.
PERA should divest from fossil fuels for the climate, as well as for better returns: a guest column published in April.
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Heard yesterday by the House Finance Committee, HB21-1246 would have required PERA to curb pension fund investments in fossil fuel companies that are losing money, harming public health, and fueling the climate crisis
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Legislation calling on PERA to divest from fossil fuels has been introduced in Colorado.
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BlackRock and Meketa say divestment from fossil fuels improves, not weakens, investment returns
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New York City’s largest pension funds achieve first in the nation goal of divesting from fossil fuel reserve owners - expected to be one of the largest fossil fuel divestments in the world
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Members of the Fossil Free PERA Coalition have been submitting formal communications to PERA since at least 2019 calling on PERA to assess climate-related financial risk and to divest from fossil fuels as a matter of fiduciary responsibility and urgency.
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Concerns in Colorado mount over both Canadian and Colorado pension fund investments in fossil fuel companies that are harming public health and fueling the climate crisis. A video was released by impacted Coloradans with a message to PERA.
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New Report Highlights Complexities of Pension Fund Investments in Fossil Fuels & Subsequent Harm to Coloradans; Report Mirrors Concerns with PERA Investments
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Concerns in Colorado mount over both Canadian and Colorado pension fund investments in fossil fuel companies that are harming public health and fueling the climate crisis here in Colorado and beyond.
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Coloradans are calling on Colorado's statewide pension fund, PERA, to stop investing public money in fossil fuel companies that pollute our air, water, and land, put our communities at risk, and contribute to climate crisis. It is more important than ever to protect public health and safety by investing public funds sustainably and ethically
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UK’s largest pension fund moves to divest from fossil fuels, following Sweden’s pension fund earlier this year.
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