CA SB252

Prohibits the Public Employees' Retirement System and State Teachers' Retirement System from making new or renewing existing investments in fossil fuel companies (the 200 largest publicly traded fossil fuel companies by carbon content in proven reserves).

Requires both retirement systems to liquidate all fossil fuel company investments by July 1, 2031, with a temporary suspension provision if unforeseeable events materially disrupt normal market pricing (suspension expires January 1, 2035).

Mandates annual reports to the Legislature and Governor beginning February 1, 2025, detailing liquidated fossil fuel investments, remaining holdings, and methods to transition to alternative energy sources.

Provides that fossil fuels include petroleum oil, natural gas, and thermal coal used for electricity generation (excluding metallurgical coal for steel production).

Protects board members, officers, employees, and investment managers from liability and provides indemnification from the General Fund for actions taken to restrict, reduce, or eliminate fossil fuel investments under this bill.