Emilie Falc: State should divest from oil companies

Emilie Falc: State should divest from oil companies

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How will we invest in our future?

Our future is shifting to wind and solar energy. How will $4.7 billion in risky investments in oil and gas companies impact Minnesota's ability to deliver benefits that are due to state workers?

In other states like New York and California, they are calculating the negative impact of pension funds that are invested in oil and gas companies and infrastructure like pipelines.

In California, their exposure to financial risk due to bad investments in oil and gas cost the state almost $5 billion, and in New York, by their calculations, each pension holder has lost an average of $20,000 during the last 10 years.

The time is now to calculate the risk to the Minnesota State Pension Fund. The time is now to divest from the morally bankrupt oil and gas industries. The time is now to send a message of care and support for state workers who depend on their pensions by getting honest answers to these questions.

Emilie Falc, Winona

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