It makes economic sense! Take action to encourage all 650,000 Wisconsin Retirement System participants---current and retired employees of state agencies, most local governments and school districts in Wisconsin---demand the State of Wisconsin Investment Board eliminate climate related financial risks.
Crucial information & documentation from Climate Safe Pensions for Wisconsin below:
SWIB lost $4.3 billion by lingering in fossil fuel stocks.
That means each Wisconsin Retirement System (WRS) member lost about $6,000.
Documentation is within a new report (released on June 28) from the University of Waterloo and the Climate Safe Pensions Network.
Key point: that report substantiates why we have been trying to get SWIB to reconsider their investment choices. If SWIB had divested from fossil fuel stocks ten years ago SWIB would now be $4.3 billion dollars richer.
A reasonable person would notice one other critical point: financing fossil fuel investments threaten not only our financial investments, but our health and the health of our communities and planet. It leads to catastrophic climate chaos, and increasing outbreaks of extreme weather.
As July began, unprecedented and dangerous Canadian forest fire smoke blanketed Wisconsin. On July 14, the weekly report of U.S. Drought Monitor placed nearly all of Wisconsin in drought and half of the state in severe drought. Big picture: Isn’t it fundamental common sense and due diligence to be concerned about the carbon impacts of SWIB’s fossil fuel holdings? If SWIB had divested a decade ago, the research documents that its portfolio would have produced 24.4% less carbon or 28.5 million less metric tons. According to the Environmental Protection Agency’s green house gas calculator that is the equivalent of the green house gas from 6.3 million gas-powered cars driven for one year.
"Influential investors, like these large public pension funds, can bring about positive change on a few fronts," said Dr. Olaf Weber, professor in the School of Environment, Enterprise and Development at Waterloo. "Energy divestments can create higher returns for the funds, which leads to higher returns for the beneficiaries and reduced exposure to climate risks. Consequently, it leads to safer pensions."
Join us in persuading SWIB to adjust its strategy.
We are calling on SWIB to ensure the long-term soundness of its investment by assessing and eliminating climate-related financial risks.
To learn more about the report:
We continue to build our Climate Safe Pensions coalition...
We enjoyed many good conversations with folks at the Midwest Renewable Energy Fair and continue to gather more signatures on our petition asking SWIb to begin divesting from risky fossil fuels.
Keep sharing our petition
We know there are 650,000 members of WRS. We see that as a huge opportunity to talk with our friends, co-workers and families all over the state about: common sense due diligence in our pension investments -- and -- a climate safe and healthy future for our communities, children, waters and planet
An LTE is your chance to speak to your fellow Wisconsinites, and create a powerful ripple effect. Join other supporters in writing letters to editor:
Check out this letter by Peter Gorski published recently in the La Crosse Tribune and use our resources to write one of your own to your local newspaper. Outline the powerful common sense need to divest SWIB’s fossil fuel investments.
Let us know when your LTE gets published too so we can amplify your message.
Follow this link for some tips on writing a successful LTE.
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Sent to WNPJ from the Women's International League for Peace & Freedom - Madison2079, Winnebago Street Madison, Wisconsin 53704 wilpfmadison@gmail.com