impact of fossil fuel usage. second, the committee is encourages by the six-point recommendation for taking action on this topic, but would like to request more information regarding specific timelines for each of the action items lefted in the staff plan. the committee would like to communicate their grave concern regarding the possibility of a mass divestment of fossil fuels within a short time frame. the committee would advocate that the board undertake no such rash action until completing a complete analysis of the financial impact the effect it would have on pension performance and costs. we appreciate and understand the desire to divest from fossil fuels from different entities, but we must understand the implications of such a decision before it s made. sorry. time. thank you very much. again, everyone has 1 minute. we re going to announce loudly when you are at your 1-minute mark. understand the constraints we have. sara greenwald, are you present? seeing she s
would have on pension performance and costs. we appreciate and understand the desire to divest from fossil fuels from different entities, but we must understand the implications of such a decision before it s made. sorry. time. thank you very much. again, everyone has 1 minute. we re going to announce loudly when you are at your 1-minute mark. understand the constraints we have. sara greenwald, are you present? seeing she s not here. i will set her speaker card aside. phil casky, followed by margaret pierce. phil casky, retired from the water department. i think i want to say briefly the water department is an incredibly wonderful system. it s one of the most protected systems in the world. and we didn t get that way by being unprotective of the environment. so burning fossil fuels is not protective of the environment. and i would like to keep the water system the way it is and i think that san francisco can be a leader in many, many ways and by divesting is one way
that we double up in this category then? you are a consultant. you are giving us advice for now and in the future. so if you believe it s going to go up, why was that not in the recommendation that came before the board? everybody in this room needs to understand that you hold securities in two places. you give them to managers and those managers make the decision on if the security is attractively valued or not. as a consultant, why don t you recommend us investing more money in the field if you think it s going to go up? we re not recommending adding additional energy to the portfolio unless a manager hired to make that recommendation determines that that s what they should do. we re arguing that you don t take away that choice from them. the figures i quoted to you do not embed an expectation that energy prices will increase. what they do embed is taking energy away diversifies the portfolio. you made a statement that we re making a political statement. could you p
i do believe the riskiest fossil fuels are easily identifiable you ve gotten rid of some of them already. and there are others that can be done in a more immediate fashion. and in how many we ve sold in the thermal area, what, nine companies? right. restricted. okay. that s what we re looking to build on right now. how many people have come to you and said, we ve divested and we made a mistake? or we wanted to slow it down, if we had a chance to resell? walk me through none of our signatories whatever divestment they ve done. it s important to differentiate. if you divest from all fossil fuels and you do that tomorrow, that s different than selling off two coal companies or whatever it is. so i think what i ll say is that every signatory that s taken some kind of divestment action, has done it in a thought out, procedural way and not a reactive, get-rid-of-this-tomorrow way. i can safely say that, right? thank you. that s helpful. are we on time? beh
melanie louis? i have worked for the city and health department the last 30 years, last 18 years in the emergency department. i want to ask all of you to do the right thing. we, who benefit from our pension, don t want our pension money invested in evil. fossil fuel is evil. it s hurting it s hurting what will be left of our planet for our grandchildren and i encourage all of you to vote to divest all of our money from fossil fuels. c. landry and carol brownson after that. i decline to speak. ruth magony. i worked in the library for the city for 40 years, worked hard for my retirement. over the last four years, i ve been doing research on fossil fuels and investments and though nelson mandela said, well, everything that you gave up in the best things from south africa, somebody else picked up, it was still powerful enough a message to south africa and the world that there were disinvestments. my studies have shown that the nonfossil fuel investments have been go