10 signatures reached
To: President Biden
Divest the federal government from fossil fuels!
We urge you to take all actions necessary to divest federal employee pensions from fossil fuel companies. These companies are not only destroying our climate, they are also a bad investment without a stable long-term future that can support the needs of the pension fund.
Why is this important?
Currently, ExxonMobil is one of the top ten holdings in one of the main pension funds the federal government manages for their workers.
But Federal employees have been organizing to get their pensions divested from fossil fuels. Oil companies are not only destroying our climate, they're also increasingly risky investments without a long-term future. As the climate crisis worsens, now is a crucial moment for President Biden to deliver what these workers want -- and what our planet needs.
Here's how it would work: Biden could either author an executive order telling the board that controls the federal pension fund to divest from fossil fuels. Or, he could nominate new board members to its board. This second option is possible, since four of the five seats are occupied by people whose terms expired under President Obama, and the fifth is vacant.
Federal pension divestment is an important tool in the fight against the climate crisis. It would set a precedent for investors around the world--making it clear that fossil fuels are an unethical and unwise investment.