U.S. public pensions could be $21 billion richer right now
“The study, out of the University of Waterloo in partnership with Stand.earth, analyzed the public equity portfolios of six major U.S. public pension funds, which collectively represent approximately 3.4 million people, to determine the effect divesting from their energy holdings would have had. In total, researchers estimate that the pension funds would have seen a return on their investments that was 13 per cent higher on average.”
[COMMENTARY] No doubt this study will be used, rightfully, by many to encourage those managing pension funds to divest from fossil fuels. However, another argument is that by staying partially invested in fossil-fuel producers pension funds may be able to organize shareholders to encourage these producers in a more climate-friendly direction that encourages greater profitability.
U.S. public pensions could be $21 billion richer right now, by Media Relations, University of Waterloo, Canada.