350 Colorado is running a number of campaigns focused on defunding climate disaster, including a statewide divestment campaign targeting the Public Employees Retirement Association (PERA), Colorado’s state pension fund. This past year, Fossil Free PERA members and 350 Colorado staff and volunteers have been calling on PERA to divest through presence at board meetings, supporting legislation in 2019 that would have required PERA to assess climate-related financial risk, and most recently meeting with PERA staff, Director and Chief Investment Officer on the issue. This fall, Fossil Free PERA and 350 Colorado commissioned a study by Corporate Knights which highlighted PERA’s losses as a result of not divesting from fossil fuels. The below segment produced by KDNK radio offers background of the Fossil Free PERA campaign, and highlights the recently released study.
You can listen to the seven-minute segment here, including interviews with 350 Colorado’s Campaign Coordinator Deb McNamara and Fossil Free PERA members: https://www.kdnk.org/post/pera-members-and-activists-hope-new-study-will-move-needle-divestment
“Images of a bleak future painted by climate scientists have sparked action around the world, but some Colorado environmental groups say climate action should also be happening in the world of finances and investment. A new study by media and analysis firm Corporate Knights reveals that Colorado’s Public Employee Retirement Association (PERA) lost over 1.7 billion in retirement savings since 2009 by continuing to invest in fossil fuels. Climate activists hope the new data could convince PERA’s Board of Trustees to divest from fossil fuels.”