REPORT: U.S. public pensions could be $21 billion richer right now
Photo Credit: Jeff Straw Branding
A groundbreaking report from the University of Waterloo, commissioned by Stand.earth and Climate Safe Pensions Network, reveals that 6 public pension funds missed out on over $21 billion in returns by failing to divest from fossil fuels 10 years ago.
That’s an aggregate of 13% higher returns had they divested from fossil fuels a decade ago and a 35% drop in GHG emissions (energy use of 30 million homes per year, or 53 million gas-powered cars in 1 year). If fires and floods weren’t enough, this latest report should light a fire under major North American public pension funds to divest from fossil fuels.