CalPERS Fossil Fuel Divestment Bill Hinges on Union Support (1)

A California state senator is resurrecting an effort to liquidate and estimated $15 billion in fossil fuel investments from the two largest public pensions in the country, but will have to first persuade some usual political allies in her cause.

Democratic Sen. Lena Gonzalez’s chances at divesting California from oil and gas companies sank last year when the chair of the Assembly Public Employment and Retirement Committee refused to consider a similar measure, citing the politically divisive nature of oil and gas divestment.

Gonzalez said she’s working harder this year to gather support for the measure (S.B. 252) ...