Hello Members of Third Act Washington,
Washingtonians are usually surprised to hear that the state pension fund is still invested in coal, the dirtiest form of energy.
The Washington Coal Act, SB 5439, would require the Washington State Investment Board to move an estimated $2.6 billion in assets out of coal companies and stop any new investments. Washington utilities can no longer burn coal after 2025, so it’s time to stop state investments in coal.
Third Act Washington, Divest Washington, union locals, faith communities, and state pension holders are urging Washington lawmakers to pass SB 5439.https://leg.wa.gov/legislators/
The WA Coal Act aligns our public investments with our existing commitments to a clean energy future. The legislature has ruled that State utilities must quit burning coal as an energy source by the end of this year.
Oregon and California have already passed laws to remove coal from their state investment funds.
“We take seriously the long-term stewardship of state pensions,” said bill sponsor, State Senator Noel Frame (D-Seattle). “The grave risks of continued coal pollution combined with low-cost competitors like wind and solar show no upside to investing in coal. The WA Coal Act will ensure that our public service pensions are protected from short-sighted investments in coal, the dirtiest fuel.”
Jeffrey Johnson, former President of the Washington State Labor Council, AFL-CIO and Board Chair of the Labor Network for Sustainability added, “Every dollar invested in coal contributes to further climate disaster. Every dollar invested in cleaning up climate disasters is a dollar not spent on education, health care, reducing poverty, or public safety. There is nothing prudent, financially or otherwise, about destroying our planet. It is long past time to divest from coal assets.”
ACTION NEEDED:
Email your senator and urge them to support SB 5439. You can find your senator at: https://leg.wa.gov/legislators/
Then look up their email in the list on the website.
Script: My name is _________. I am a constituent in your district. I am asking you to support SB 5439, the Washington Coal Act.
Talking points:
- Why do you care about this bill—personally (your climate concerns)
- Financial Risks – Declining markets – coal’s role in U.S. and global energy is decreasing and is losing to cheaper energy sources like solar and wind. Shareholders (Pensioners) could bear the consequences.
- Pollution and Health Risks – Coal is the dirtiest form of energy. Burning coal releases carcinogenic toxins and pollutants.
- WA Clean Energy Transformation Act – In 2019, the legislature ruled that State utilities must stop burning coal as an energy source by the end of this year. Now, it’s time to reduce our state’s financial investments in coal.
Onward.
from Third Act Washington volunteers