fossil-free-finance

CalPERS Beneficiaries Union Becomes First in the Nation Calling for Exxon Bonds Moratorium

Sacramento, CA – CalPERS beneficiaries testified this week, calling on the CalPERS Board of Directors to commit to no new Exxon bond purchases to protect against financial risk due to climate change.  

For the First Time, Union representing CalPERS Beneficiaries Calls for an End to Exxon Bonds

SACRAMENTO – CalPERS beneficiaries testified November 18 calling on the CalPERS Board of Directors to commit to no new Exxon bond purchases to protect against financial risk due to climate change. 

The November Board meeting marks one year since CalPERS announced a sustainable investment strategy with a focus on reaching net zero by 2050. In testimony, union leaders and beneficiaries called for more transparency around core investments that comprise CalPERS’ $100 million sustainability fund. 

Sierra Club Highlights Vital Role of State Treasurers in Managing Climate Risks and Workers’ Savings

WASHINGTON, DC – Ahead of this November’s elections, the Sierra Club is contacting voters across several states—Pennsylvania, North Carolina, Oregon, and Washington—where the office of State Treasurer is on the ballot to educate and mobilize its base around the importance of the role for the climate and workers’ savings.

CalPERS Beneficiaries Testify Calling on Pension Fund to Drop Exxon

SACRAMENTO, CA – Dozens of CalPERS beneficiaries testified September 16, 2024 in front of the CalPERS Board of Directors and more than 2,000 beneficiaries and supporters sent letters to CalPERS’ staff. They are calling on the fund to exit Exxon given the company’s actions against shareholders and the risk continued investment in the company poses to retirement security.

Sierra Club Commends NYC Comptroller Plan to Stop Pensions’ Private Market Fossil Fuel Investments

New York — Today, New York City Comptroller Brad Lander announced a plan to develop a new policy to exclude prospective private markets investments in downstream and midstream fossil fuel infrastructure for the portfolios of three of the City’s public pension systems.

NEW REPORT: Sierra Club Finds Major US Banks Are Climate Laggards, Recommends Steps to Meet Net-Zero Commitments

A new report released today, Leaders or Laggards: Analyzing major US banks’ net-zero commitments, from the Sierra Club finds that all six major US banks — JPMorgan Chase, Bank of America, Citi, Wells Fargo, Goldman Sachs, and Morgan Stanley — are falling short in implementing best practices for interim emissions targets, exclusion policies, and disclosures to demonstrate alignment with their commitments to net-zero emissions by 2050.

Sierra Club and Public Citizen Support Strengthened Rules for Financial Institutions to Achieve Net-Zero Climate Commitments

The Sierra Club and Public Citizen have submitted a joint comment in support of the SBTi’s Financial Institutions (FI) Net-Zero Standard (FINZ) Consultation Draft, including their recommendations for strengthening the Standard and closing loopholes that perpetuate greenwashing by banks, ins

Media Advisory: New Sierra Club Report Finds Major US Banks Are Climate Laggards, Recommends Steps to Meet Net-Zero Commitments

What: A new forthcoming report from the Sierra Club shows that all six major US banks — JPMorgan Chase, Bank of America, Citi, Wells Fargo, Goldman Sachs, and Morgan Stanley — are falling short in implementing best practices for interim emissions targets, exclusion policies, and disclosures to demonstrate alignment with their commitments to net-zero emissions by 2050.

Public Interest Groups Defend SEC’s Climate Risk Disclosure Rule

Louisiana State Treasurer Accuses Bank of America of “De-banking” Fossil Fuel Companies, in Latest Anti-ESG Publicity Stunt

Yesterday, Louisiana State Treasurer Dr.

Gulf Coast Residents and Major Organizations Call on Financial Institutions to Phase Out Financing of LNG Projects in the Rio Grande Valley

“We will hold any financial institutions that choose to support these projects accountable for such impacts.”

** READ THE LETTERS HERE **

Thousands of Vanguard Clients Ask New CEO to Center Climate Risk

Valley Forge, PA –  Today, 8,056 individual Vanguard (VG) clients released a letter welcoming Salim Ramji to the role as CEO of The Vanguard Group. The letter is a clear expression of clients’ desire to see Ramji center climate risk as a priority in Vanguard's investment and stewardship strategies under his tenure.