CalSTRS retirement fund needs to divest from all fossil fuels.
Why is this important?
We can no longer ignore the impending danger to our planet and retirement funds by burning fossil fuel at the current rate. The atmosphere can absorb no more than 565 gigatons of CO2 before 2050. The fossil fuel industries already have the capacity in their reserves to burn 2795 gigatons.(5x the safety limit) and, at our current rate of emissions, we will reach the limit in 15 years. To ensure a livable planet for our children, 80% of the fossil fuel reserves have to stay in the ground. These reserves are already counted as assets--hence the looming carbon bubble will have to pop if we are to save the planet. CalSTRS should not make any new investments in fossil fuels and should divest from all fossil fuels within 5 years.
