December 11, 2015 Read More →

San Francisco Retirement Fund Moves to Divest Coal Holdings

Emily Green and John Wildermuth for the San Francisco Chronicle:

The San Francisco Employees’ Retirement System board has voted to divest all of its coal holdings and reinvest the $21 million in renewable energy. It also voted Wednesday to invest $100 million in a fossil-fuel-free index fund.
While the board’s investment in coal companies represents a tiny fraction of its $20 billion holdings, board member Victor Makras called the divestment significant.

“It’s real money. And it is the worst of the offenders because it’s coal,” Makras said.

Alex Bastian, spokesman for District Attorney George Gasc—n, walks past the now bare walls of the former SF Police offices on the 6th floor of the Hall of Justice in San Francisco, CA Thursday, December 3, 2015. Hall of Justice’s other inhabitants cope with pests, weird Dexter, a month old brown tabby plays with fish on a computer monitor on the fourth day of “12 Days of Catmas” in supervisor Katy Tang’s office in San Francisco, California, on Friday, December 4, 2015. The kittens are to encourage adoption of shelter animals. Cute kittens and upzoning on Divisadero street
The board will divest from BHP Billiton, Rio Tinto, Vale, Black Hills, Consol Energy, Glencore, Alpha Natural Resources and SunCoke Energy Partners.

S.F. retirement fund ditching coal stocks

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