California built a first-in-the-nation system to police refinery profits during price spikes, but regulators delayed it for five years.

The California Public Employees Retirement System is the largest public pension in the U.S., but it does not disclose a complete list of its climate-focused investments, nor the criteria it used to select them. 

Without massive investments in clean energy, air board officials warned that more fossil fuels will be needed to power electric cars and ensure a reliable power grid under California’s sweeping new climate strategy.

The Santa Clara Valley Water District became the first water agency in the nation to join a movement to divest from fossil fuels, retracting investments from companies considered to contribute to climate change and harm the world’s water supply.