A California bill that would prevent CalPERS and CalSTRS from making new investments in fossil fuel companies and require them to divest from such companies by July 1, 2031, has been placed in a Suspense File.
That means that the bill, which was placed in the suspense file with the state Senate Appropriations Committee on May 1, could either come up for a vote before the full Senate at a later date or quietly die in committee, according to information on the committee's website.
Both the $456.7 billion California Public Employees' Retirement System, Sacramento, and the $306 billion California State Teachers' Retirement System, West Sacramento, oppose the bill.
