The Fresno County Democratic Central Committee has not endorsed any candidate in this race.
The Oil, Coal, Gas and Insurance industries are trying to stop me from asking insurance companies to address climate change and climate related risks. They got hostile amendments put into SB 488 which stop our climate risk efforts.
Please forward today the email below to all Democratic Central Committee Members and any other Democrats and Democratic organizations for whom you have contact information.
We need your and their help to stop the Oil, Gas, Coal and Insurance industries from blocking our work on climate risk. Please take action today. The Assembly Appropriations Committee will decide this Friday what action to take on SB 488 which contains the Oil, Coal, Gas and Insurance industry amendments.
Thank you for your Democratic leadership!
Climate change is real. And it poses real risk to the financial sector, including the insurance industry.
But insurers and the coal, oil and gas industry have obtained a hostile amendment to Senate Bill 488– an amendment that would stop me from surveying insurers about climate risks.
Climate-related risks include financial risks to investment assets. Investments in coal, oil and gas face the risk of decreasing in value and becoming “stranded assets” as markets and governments potentially move away from relying on coal, oil, and gas for energy and instead rely more on renewable energy sources.
One of my most important responsibilities as your Insurance Commissioner is to make sure insurance companies are investing your premiums in investments that will retain value, so there is money available to pay insurance claims.
I am the first Insurance Commissioner to to ask insurers to publicly disclose their investments in coal, oil and gas, and to voluntarily divest from coal because of the risk that it will become a “stranded asset.”
They don’t have a legal leg to stand on and we told them so. So now they are trying to stop me through the amendments to SB 488.
Join me in opposing the amendments to SB 488. Sign our petition which asks the Assembly Appropriations Committee to amend SB 488 to remove the amendments at Section 7 of the bill.
Act now! The Assembly Appropriations Committee will decide this Friday what to do with SB 488. Join me in opposing the insurance, coal, oil and gas industries effort to stop me from addressing climate risk!