From Richard Brooks - 350.org <[email protected]>
Subject No public money for public destruction
Date January 22, 2020 4:10 PM
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John,

The climate system is breaking down before our very eyes. As Australia
burns and communities across the U.S. struggle to recover from annual
floods, storms and fires, our governments remain in the pockets of the
corporations responsible for the state of our planet — especially Big Oil
and Gas. 

The fossil fuel industry wants us to think they're invincible, but they're
not. They're companies that need financing just like any other. And a
significant chunk of that financing comes directly from public pension
funds — otherwise known as our tax dollars. 

[ [link removed] ]It's time to stop supporting climate chaos with taxpayer money. Take a
second to sign and send a letter to your governor and state legislators
urging them to divest pension funds from fossil fuel companies.

Nearly all public pension funds in the U.S. are invested in fossil fuel
companies. That means public money is being used to fund public
destruction.

To make matters worse, these investments in fossil fuels actually place
our pension funds at risk. Fossil fuel companies are actually
underperforming compared to the rest of the market. It's widely expected
that the industry will eventually go under. This bursting of the "carbon
bubble" could cause losses greater than the 2008 financial crisis,
according to a [ [link removed] ]recent study.

It doesn't have to be this way. Pension money invested in fossil fuels
could instead be used to invest in a just transition to 100% renewable
energy. This would result in healthier retirement funds for pensioners,
countless green jobs for our communities, and a healthier planet for all
of us. 

By raising our voices across the nation, we can build pressure on state
governments to divest from fossil fuels that exceeds what we're able to do
by ourselves. [ [link removed] ]Sign the letter now to demand that our elected officials
act to freeze all investments in fossil fuel companies and divest public
funds from all direct and indirect investments in coal, oil and gas
producers.

Forward,

Richard


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