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.
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 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. 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
350.org is a global movement that fights for a just and equitable world by stopping the fossil fuel industry from continuing to destroy our climate.
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