Trading Away Common Sense

Yesterday, PACE commentary was featured in Morning Consult. The content of our op-ed, part of a continuing focus on harmful and misguided energy divestment and defunding campaigns, is below.

Environmental activists, driven by self-interests and profoundly mistaken beliefs about financial markets and energy policy, are pressuring citizens, public officials and corporate boards to abandon profitable investments in energy companies. These activists promote divestment and claim its implementation will save the environment. The reality, though, is that divestment is a poor solution for tackling the climate challenges that lay ahead. In fact, divestment simply doesn’t work, failing virtually everywhere it’s


Pension Divestment Policy Wrong Fit for San Francisco

Following up on our December report “Rhetoric without Reason: The Dangers of Divestment” PACE wrote to the San Francisco Employees’ Retirement System Board to oppose the adoption of a divestment policy in a vote scheduled for January 24.


Dear SFERS Board:

I would like to express my opposition to the Board’s consideration of a policy related to fossil fuels divestment at your special board meeting tomorrow. I have enclosed, on behalf of myself and the Partnership for Affordable Clean Energy (PACE), a recent analysis and report on how divestment from these funds can have harmful effects on pensioners


Rhetoric Without Reason: The Dangers of Divestment

Over the past several years, PACE has reported on the energy stock divestment movement, noting this misguided social activism’s potential to weaken university endowments and spread misinformation about energy. Today, we are releasing a new paper describing a renewed and expanded divestment push, now also aimed at pension funds and financial institutions. Today’s PACE blog is the white paper’s Executive Summary; please take a look and share this with colleagues and on social media.

Simply put, divestment is the selling of stocks deemed by an individual or institution as unworthy of holding. Over the past several years, a small