The supervisor said i want to get a lot of money. So do i. Thousands of city workers signed petitions saying they dont want their what the city workers think and i think thats a statement really of the problem that we have here. The city workers retirees an active city workers have a right to have a pension fund that is going to be secure and theyre very concerned that proposals to turn it into hedge funds will put their pensions in jeopardy and the fact that you have somebody who sells Pension Funds, who invests in Pension Funds and is on the board and youre going to be reappointing this person to a five year term, what does that tell me an otherwise city workers . That you would have somebody that has a personal conflict of information on the pension board, whos questioning were having a trial. Ed lee was informing about this conflict of interest before he reappointed here and he continued to reappoint her. That tell ls me this mayor is not concerned about the retirees and active wor
The connection theyre trying to make here is that wendy paskinjordan has been a barrier to the Due Diligence of the board finding out whether or not they are sitting on significant carbon risk. I would say that its up to this board here to up hold the integrity of its board through this. And theres a difference between intent and action. Theyre very separate things and although intentd is significant the action is without a doubt where the rule was broken. So when funds were traded after ms. Paskinjordan was on the board that seems like a very strong indicator for an ethics violation and this is the opportunity to keep the first board at the highest caliber business examining this further. Thank you. Hello, im a San Francisco resident and member of fossil free San Francisco as well. I think the previous comments, i have heard an explicit call that she not be reappointed and they were basically giving their reasons why they dont think she is adequately representing her fiduciary duty on
Spoke to the board and made some very wonderful presentations. She didnt show so i think she has a lot of explaining to do. I very much would support this motion to have her come to the board and answer these questions. Before the next speaker comes up, im going to reminds everyone this is about wendy paskinjordan so just please keep your comments related to her reappointment, but not about in general what the retirement board can or should not do. Thank you. Next speaker, please. Ive been a San Francisco voter since 1908 and am the city of somebody who will have a city pension in a few years an i know he agrees with me in all this. I want to thank you for your unanimous vote to ask the pension board to invest in the fossil fuels. That was such a different time. During the nearly two years since that spring 2012 vote the retirement board has done little but waffle and mumble about how risky it might be. Ive been to those meetings, i speak from experience. The world has moved forward ar
About how risky it might be. Ive been to those meetings, i speak from experience. The world has moved forward around them and the reason to divest in momentum to do them have grown spectacularly. The reasons that i think motivate it had board of supervisors to vote was the reality of Climate Change and the scientific news keeps getting more terrible in the 20 months since you vote. Were now in a race to save the world from the worst Case Scenario frs Climate Change divest ment as this retirement board was asked to do. Another aspect thats change td since april of 2013 is the new energy landscape. Even a few years ago its here. Renewable cheap energy is seriously impacking traditional Power Generation an power companies. In the u. S. Coke brothers i could go on about that. The third is the carbon bubble. More and more authority, the bank of london, the british financial minister say wezre in the midst of a carbon bubble that could plummet and make the retirement board has to the tune of
Retirement board was asked to do. Another aspect thats change td since april of 2013 is the new energy landscape. Even a few years ago its here. Renewable cheap energy is seriously impacking traditional Power Generation an power companies. In the u. S. Coke brothers i could go on about that. The third is the carbon bubble. More and more authority, the bank of london, the british financial minister say wezre in the midst of a carbon bubble that could plummet and make the retirement board has to the tune of i think 3500 million thats worthless. So lets catch up. Thank you. Thank you for your Public Comment. That ng you. And again, im dpoing to have to remind everyone that your Public Comments must be confined to this item which is about wendy paskinjordans reappointment. Please continue your comments in relation to these items or else we will have to sprupt you. Interrupt you. Thank you very much. My name is brett, im Senior Analyst at 350. Org. My job is to track Public Institutions rea