Dear SCERS Board of Administration,
I am writing to ask that you support a full exploration of how the SCERS pension fund can protect itself from climate risk.
In recent years, the fund has lost tens of millions of dollars by remaining invested in fossil fuels, and there is reason to believe this will continue. Just last month, Mercer Investments and the Center for International Environmental Law published two reports that concluded that due to fossil fuel investments, the average U.S. public pension fund is exposed to losses of billions of dollars should action be taken to limit global warming to 2°C, the baseline goal of the 2015 Paris Climate Agreement.
In light of these reports, as well as Mercer’s 2015 report Investing in a Time of Climate Change, it is clear that SCERS can do far more to protect the City’s pension fund from climate change-related risk
Thus, I’m joining the almost 500 SCERS pension fund members who have signed the petition calling for fossil fuel divestment, to ask that you support a full exploration of how the SCERS pension fund can protect itself from climate risk.