California’s Public Pension Funds Incurred $5 Billion Loss Due To Fossil Fuel Companies

By Joshua S. Hill

California’s two public pension funds, California Public Employees’ Retirement System (CalPERS) and California State Teachers’ Retirement System (CalSTRS), suffered a loss of over $5 billion over the last financial year due to investments in the world’s 200 largest oil, gas, and coal companies (by carbon reserves).

money down the drain