California's Senate President Pro tem Kevin De León announced yesterday Dec. 5, 2014 that he will propose legislation next month to require the state's public pension funds, including CALPERS and CALSTRS, to begin to divest completely out of coal. He made the announcement at Tom Steyer's Next Generation climate conference in Oakland, CA.
Danny Kennedy founder Sungevity, Kevin Deleon incoming CA State Senate President, Tom Steyer philanthropist attended yesterdays climate conference #CCLF14 in Oakland, CA
Photo by Angela Weiss/Getty Images
“Climate change is a top priority for me as the new leader of the Senate. - Any efforts to undermine our climate change policies are undermining our global leadership and the future of our economy. The world is watching and we can't stop now. With coal power in retreat, and the value of coal dropping, it’s time for us to lead again in moving our massive state portfolios to lower carbon investments. Divestment is about matching your values with your investment strategy — and still seeing positive financial returns."