Why Should NJ Public School Employees Support Divestment? 

 

Our Pension Is One of the Least Funded in the Country!

 

New Jersey’s State Pension remains one of the most severely underfunded in the nation.  Former NJ Governor, Chris Christie, insisted that members contribute more, and then he shamelessly reneged on his end of the deal to increase the State’s contributions.  Although the State is finally paying its full payments NJ’s public pension fund only has enough money to cover 47% of what it needs to provide retirement benefits to some 800,000 current and future retired workers.   As school employees who give our all to our students, the prospect of not having a reliably funded  source of income in retirement is alarming!  

 

We Must Maximize Our Pension Returns 

 

During the early 1980s, seven of the top ten companies in the Standard & Poor’s 500 were fossil fuel companies; today, there are none. The fossil fuel sector has shrunk considerably as the energy transition is well underway. Renewables have become the cheapest and safest form of energy in most of the world.  Recent Hurricanes Helene and Milton demonstrate that climate change is rapidly intensifying. Continuing to rely on fossil fuels as our main energy source will create unimaginable suffering, especially to those least responsible for the crisis 

 

The  Future of Fossil Fuels Looks BLEAK!

 

The fossil fuel sector is shrinking financially, and the rationale for investing in it is untenable. Global stock indexes without fossil fuel holdings have outperformed otherwise identical indexes that include fossil fuel companies.  Fossil fuel companies once led the economy and world stock markets. They now lag. Fossil fuel investments are increasingly speculative and volatile, Due to the climate crisis there will be limited growth opportunities, and investments will be riskier than ever.   Why do we want our member dollars to be invested in a sector with disappearing future prospects?

 

Fossil Fuels Are Causing Irreversible Harm to Our Planet

 

As school employees and parents, safeguarding the planet for our students and children is of utmost concern.  New Jersey is especially vulnerable to climate effects. The science is clear and undeniable.  Continuing to burn fossil fuels will exacerbate the crisis we are already facing.  In good conscience, can we  continue to finance an industry that is quite literally destroying our planet and the futures of the next generations?

 

Don’t Let Fossil Fuels Burn Up Our Pension!  

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