SF pension plan takes tentative steps on plan to sell fossil fuel stocks
The San Francisco Employees’ Retirement System’s governing board took tentative steps toward selling some of its $559 million stake in fossil fuel companies Wednesday, agreeing to instruct its staff to begin assessing how the fund will define its “riskiest and dirtiest” investments.
The pension plan’s staff will have until April 30 to come up with a plan to assess those investments. Once the board is satisfied with that plan, the staff instructed to plan on how to sell off those assets, reporting back in the late summer or early fall.
“I want benchmarks and clarity,” said Malia Cohen, a city supervisor who also serves on the SFERS board.