Our government should not be invested in fossil fuels
Who is Divest Washington?
We are beneficiaries of State of Washington pension funds and other Washingtonians affected by climate change and pollution. Fossil fuels are destroying our future. Our state government should not invest in companies that cause us future financial and physical harm. For this reason, Washington State Investment Board (WSIB) must divest its holdings from fossil fuels.
DOES WASHINGTON STATE INVEST IN FOSSIL FUELS? Yes! In 2021, 4.7% of WSIB funds (over $8 billion) was directly invested in fossil fuels. Another 14% of WSIB funds was in index funds or other broad market funds that include some fossil fuel investments, and 4% of WSIB funds was in banks that fund fossil fuels (Third Rail Economy, and Stand.Earth).
WE URGE WSIB TO IDENTIFY AND REMOVE FOSSIL FUELS FROM HOLDINGS:
- Make NO NEW investments in fossil fuels since they pose a financial, health, and climate risk to Washingtonians.
- WSIB is currently invested in fossil fuels directly, but also through banks, insurance, private equity, managed funds, and other complicated financial instruments. To make fossil fuel investments transparent, identify all of these current fossil fuel investments by name and total dollar amount annually, and track progress toward zero fossil fuel holdings by 2026.
- By 2026, PHASE OUT ALL CURRENT fossil fuel investments identified above and move to climate-safe investments, using a social justice framework that accounts for impacts on frontline communities across the state, including rural communities and communities of color. In 2026, provide a timeline to remove the few fossil fuel holdings still in hand.
JOIN US! Would you or your organization like to join our effort? Click here to sign up as a coalition member to strengthen our call for Washington State to be transparent and to divest from fossil fuels!
