Dear friend and climate advocate,
Nearly all public pension funds in the United States have investments in fossil fuel companies and are thus using tax dollars to support the powerful polluters causing the climate crisis.
Aside from the obvious climate-related impacts we're seeing, state pension funds’ investments in fossil fuels actually put those pension funds at risk. Coal, oil, and gas companies are already underperforming compared to the rest of the market. It is widely expected these fossil fuel assets will eventually become stranded, and stock values of companies holding those assets will plunge. This bursting "carbon bubble" could result in losses greater than the 2008 financial crisis, according to
a recent study.
Retirement savings should not be invested in an uncertain and volatile industry, and tax payers certainly don't want to continue to financially support fossil fuel companies, the primary drivers of the climate crisis. Put simply, public money should not be used to fund public destruction.
The Team @ 350 Chicago
