LETTER OF SUPPORT, FOSSIL FREE CALIFORNIA AND ENVIRONMENT CALIFORNIA, SB 964

CIEL advocates for detailed climate-related financial risk disclosures by California's public pension funds, arguing that such transparency is essential for fulfilling fiduciary duties to beneficiaries.

• CIEL argues that detailed and specific disclosure of climate-related risk exposure is necessary to satisfy the legal requirements of SB 964, protect the interests of beneficiaries, and provide a model for other investor fiduciaries.
• The document asserts that the quality and process of disclosure serve as evidence of whether trustees have exercised their fiduciary duty of care and loyalty to beneficiaries, particularly regarding the monitoring of fund assets for climate risk.
• CIEL recommends that disclosures explicitly justify the retention of assets exposed to material climate-related financial risk, including investments in coal, oil, gas, and real estate in wildfire or coastal zones, and explain how these align with the Paris Agreement and California climate goals.

APA

Center for International Environmental Law (2019). LETTER OF SUPPORT, FOSSIL FREE CALIFORNIA AND ENVIRONMENT CALIFORNIA, SB 964. https://www.ciel.org/wp-content/uploads/2019/06/CIEL__SB964_06.20.2019.pdf

Chicago

Center for International Environmental Law. LETTER OF SUPPORT, FOSSIL FREE CALIFORNIA AND ENVIRONMENT CALIFORNIA, SB 964. 2019. https://www.ciel.org/wp-content/uploads/2019/06/CIEL__SB964_06.20.2019.pdf.

Wikipedia

{{cite press release |author=Center for International Environmental Law |title=LETTER OF SUPPORT, FOSSIL FREE CALIFORNIA AND ENVIRONMENT CALIFORNIA, SB 964 |date=25 June 2019 |url=https://www.ciel.org/wp-content/uploads/2019/06/CIEL__SB964_06.20.2019.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{centerforinternationalenvironmentallaw2019letter, author = {{Center for International Environmental Law}}, title = {{LETTER OF SUPPORT, FOSSIL FREE CALIFORNIA AND ENVIRONMENT CALIFORNIA, SB 964}}, publisher = {Center for International Environmental Law}, year = {2019}, month = jun, url = {https://www.ciel.org/wp-content/uploads/2019/06/CIEL__SB964_06.20.2019.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }