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
the in house police images up here in to show puts in the ukrainian city, which brushing force is captured in make. this comes up, our restaurant is issued against the russian leader, alleged war crimes committed unoccupied decree. meanwhile, moscow supposed to be teaching, but a statement suggest hours away. western leaders, who did you put the pressure on put things and the invasion chinese president has a piece plan, but it fall short of western expectations. ah, i am eddie micah junior. welcome to the program, switzerland s biggest bank u. b. s. has reached a deal to take over its embattled rival, credit suisse or 3 and a quarter $1000000000.00, or just about $3000000000.00 euros. a takeover comes i made fears that an ongoing bank in crisis called the stabilize the global financial system. with the land is preparing emergency measures to fast track to take over and u. b as will receive liquidity assistance from the state. the turmoil was on the east by the collapse of 2 b