Tuesday, September 9, 2014

Fossil Fuel Divestment Advocates Likely to be Disappointed by Regents report

Venice Beach back in the day
As noted in a previous blogpost, the Regents' Committee on Investments is meeting on Friday and will be considering a report from a task force set up in response to fossil fuel divestment advocates.  The task force report is now posted at the link below:

It doesn't advocate divestment.  It talks in general terms about green opportunities for INvestment.  The report indicates it was approved by a "majority"of its members which suggests that the divestment advocates were not in support.  We are likely to hear about that during the public comments session either on Friday or at the later Regents meetings.

UPDATE: The report has been slightly revised (same link as above).  The wording changes are shown in the revised document.  Change seems to be aimed at not slamming divestment (but still not advocating it).

Also now posted is the report on returns to Regents investments during the past fiscal year.  The UC pension earned a return basically in line with CalPERS and significantly above CalSTRS.  (The report doesn't make that comparison but yours truly has made it for you.)  You can find the earnings report at:

And back to the first report - for those unfamiliar with the ditty below - we again provide "Up Came Oil."

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