Congresswoman Rashida Tlaib (D-MI) introduced legislation last month which would give federal employees the ability to divest from the fossil fuel industry.
If passed, the bill would offer “Climate Choice” investment option for the Thrift Savings Plan (TSP). The proposed legislation is the House companion bill to the version Senator Jeff Merkley (D-OR) introduced last May.
“Federal employees who have honorably dedicated themselves to public service deserve to have the option of divesting from corporate polluters that put their profits ahead of our planet’s future and our public health, so that they can rest easier that their retirement investments are socially responsible,” Congresswoman Tlaib said.
“Americans are seeing the growing climate crisis driving catastrophic wildfires, deadly storms and hurricanes, and devastating droughts, and lots of people don’t want to wait around for these risks to grow,” Senator Merkley said. “If people want to get their money out of the industry driving climate chaos, they should be able to. It’s time for Congress to give millions of federal employees the power to ensure their retirement funds are invested in a less risky and more sustainable, socially responsible portfolio.”
According to a press statement from Tlaib, the RISE Act has been endorsed by the following environmental organizations: Sierra Club, Stop The Money Pipeline, Oil Change International, Food and Water Watch, 350.org, Center for International Environmental Law (CIEL), Zero Hour, Catholic Network US, Rapid Shift Network, Call to Action Colorado, Climate Hawks Vote, Mazaska Talks, Giniw Collective, Earth Guardians, 350 Humboldt, Texas Campaign for the Environment.
The full text of the bill can be found here.