Isabella Vanderheiden / Monday, Aug. 25 @ 12:25 p.m. / Agendizer
THIS WEEK IN CITY COUNCIL: Eureka May Take a Stand Against CalPERS ‘Unethical Financial Investments’ in Israel
Photo: Andrew Goff
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At this week’s meeting, the Eureka City Council will consider sending a letter urging CalPERS, California’s public pension fund, to “stand on the right side of history” and divest from all assets and companies “supporting Israeli apartheid and genocide.”
The letter, brought forth at the council’s request, asks the California Public Employees’ Retirement System (CalPERS) Board of Directors to immediately divest from “unethical financial investments,” including “billions of dollars in investments in weapons manufacturing, shipping, logistics, and fuel companies that facilitate human rights violations around the world, including the ongoing military occupation and genocide of the Palestinian people.” The letter calls for the state entity to reinvest in “ethical and socially responsible investment that align with the values of justice and human rights.”
For nearly two years, pro-Palestinian activists have urged city and county governments to stop doing business with CalPERS, to take a stand against the ongoing war in Gaza. However, pulling out from the CalPERS system, as some activists have called for, simply isn’t possible.
“It would cost the city tens if not hundreds of millions of dollars … in unfunded liabilities for people who are retired and being paid out, as well as every single employee that currently works for the city,” Eureka City Manager Miles Slattery told the Outpost. “We do not have the ability to do that. There’s no way the city could afford it.”
As a stakeholder, the city can provide feedback to CalPERS, which is the path other local governments and agencies have taken in the past to speak out against international conflicts and human rights violations.
“CalPERS’ has proven a commitment to principled investment practices, including existing divestment mandates for companies in Iran and Sudan, tobacco, firearms, and coal,” the letter states. “Just as institutions around the world supported economic sanctions against South Africa’s apartheid in 1990, we now call upon CalPERS to divest from all its assets and companies supporting Israeli apartheid and genocide. … We can and must use our financial power to exert pressure that could help end the suffering of the Palestinian people and others around the world who are subjected to violence.”
The council will discuss the letter, which can be read in full here, during a special meeting on Tuesday at 5 p.m. More information can be found in the agenda below.
Eureka City Council
Aug. 26, 2025, 5 p.m.
A. REPORTS/ACTION ITEMS
1. CalPERS Israel and Israel-Palestine Conflict Investments
The Eureka City Council is discussing whether or not to request that CalPERS, a retirement system, consider divesting from investments related to the Israel-Palestine conflict. This has raised ethical concerns in the community. The City of Eureka does not control CalPERS investments, but they are stakeholders. The Council is discussing sending a formal letter to CalPERS requesting a review and potential divestment.
— LoCOBot
… or, as a high-energy radio advertisement!
Are you concerned about where your city’s investments are going? Want to take a stand for ethical investing and human rights? Join us at the next Eureka City Council meeting to discuss CalPERS investments in the Israel-Palestine conflict.
CalPERS currently has investments in companies involved in the escalation of violence in the region, and it’s time for the City Council to take a stand. Your voice matters, so come out and provide your input on this important issue.
Let’s promote effective governance and align our public funds with our community values. Be a part of the conversation and help us decide on the best course of action. See you there!
— LoCOBot
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