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TexasTowelie

(111,642 posts)
Tue Feb 14, 2017, 07:25 PM Feb 2017

Dakota Access Pipeline Opponents Call on CalPERS to Divest

In response to President Donald Trump's decision to expedite construction of the Dakota Access Pipeline, opponents of the controversial project are redoubling their efforts to block it. One strategy is to defund it.

Today in Sacramento, more than one hundred people crowded into the board meeting of the nation's largest public pension fund calling for divestment from the companies building the DAPL.

The California Public Employees Retirement System, or CalPERS, has $309 billion in investments, including stocks and bonds of oil and gas companies that are worth hundreds of millions. CalPERS owns bonds issued by Energy Transfer Partners, the company building the DAPL, worth about $57 million.

The CalPERS board is considering whether to support or oppose AB 20, legislation introduced in December that would require both CalPERS, and the state teachers' pension system CalSTRS, to liquidate all investments involved in building or financing the Dakota Access Pipeline.

Read more: http://www.eastbayexpress.com/SevenDays/archives/2017/02/13/dakota-access-pipeline-opponents-call-on-calpers-to-divest

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