I am seeing MANY non-profit organizations urging state governments’ pension funds and other entities (colleges, religious bodies, investment companies, etc.) to DIVEST from — SELL ALL of — their investments in fossil fuel companies.
MOMENTUM IS ON OUR SIDE!
Let’s increase the number of persons learning about the movement! Let’s recruit some additional persons to testify to an upcoming meeting of the Washington State Investment Board (WSIB), the small state agencies that manages the pension funds for state and local government employees and retirees. We have been testifying to WSIB’s meetings off and on since April 2014. They listen politely and then brush us off and ignore our advice.
Fossil fuel investments have become VERY RISKY!!! Coal companies have been going BANKRUPT. The WSIB owned stock in one coal company and kept the stock all the way until it went bankrupt and the stock price became ZERO. Companies investing in fracking, pipelines, exports, etc., have had to CANCEL MANY PROJECTS, so they are VERY RISKY too. Some experts are predicting the demise of some oil companies.
Besides urging pension funds and other entities to divest because of moral reasons (e.g., stop funding the destruction of the climate and Mother Earth), we have been pointing out the HARD ECONOMICS that those pension funds and entities are JEOPARDIZING OUR FINANCIAL FUTURE.
See information about divestment at some of the blog posts in the “Climate” category of this blog, www.parallaxperspectives.org.
One of our local experts, Donna Albert, submitted this document recently to WSIB: WSIB Donna public comment 20feb2020
WSIB’s next meetings will start in mid-morning on Thursday April 16, 2020 and Thursday June 18, 2020 at 2100 Evergreen Park Drive SW (somewhat near the county courthouse neighborhood) in SW Olympia. Please arrive at 9:00 am to sign in if you want to speak. Meetings start at 9:30 am, and the public comment period usually ends by 10 am.
If you’d like to know more about this, please contact me, Glen Anderson, at (360) 491-9093 glenanderson@integra.net