Tuesday, April 23, 2013

They are the wind beneath our wings: 25 years after James Hansen warned us that fossil fuels might cause bad weather, San Francisco retired employees are urged to maybe think about selling their massive ExxonMobil and other fossil fuel holdings

San Francisco Board of Supervisors Unanimously Pass Resolution Urging Fossil Fuel Divestment! | 350.org
The San Francisco Employee’s Retirement System (SFERS) is a roughly $16 billion pension fund that serves more than 52,000 active and retired employees of the City and County of San Francisco and their survivors. According to SFERS Executive Director Jay Huish, the fund currently owns $583.7 million of public holdings in 91 of top 200 fossil fuel companies. Some of SFERS’ largest fossil fuel holdings include $112 million in ExxonMobil, $60 million in Chevron, $26 million in Shell Oil, $17 million in Occidental Petroleum, and $11 million in the China National Offshore Oil Corporation.

1 comment:

Anonymous said...

So, what's going to happen if these retirement funds (including the ones from several universities) get moved into green energy and it takes a dive? Will taxpayers bail them out?