State Rep. Gail Pellerin (D-Santa Cruz) is facing multiple losses after a Times investigation revealed surprising stocks owned by an outspoken environmental activist who represents a progressive coastal section of the state Capitol. Sold from oil and chemical companies.

Mr. Pellerin sold shares in Exxon Mobil, Shell, Chevron and Dow Chemical, as well as mining company Freeport-McMoRan, according to financial disclosure forms. It comes days after The Times questioned how these investments were consistent with Mr Pellerin's pledge to curb climate change. It was submitted to the Fair Political Practices Commission last month.

When he was elected in 2022, Pellerin received support from environmental groups such as the Sierra Club and gained attention for his environmental goals, including calling for an end to California's dependence on fossil fuels. Since being elected to her House seat, she has supported environmental legislation, including voting in favor of a bill that would increase penalties for oil and gas companies that violate regulations.

But a Times analysis of state legislators' economic interests published last month found that Pellerin's $2 million in stocks in 2022 included holdings in companies that were at odds with her political values. It became clear that

Pellerin's investments also included a stake in a mining company called Freeport-McMoRan. fined millions of dollars by the federal government Dow Chemical Co., Ltd. in response to an incident in which a copper mine in Arizona allegedly polluted rivers and rivers. manufactured napalm bombs U.S. was used as a weapon in the Vietnam War, agrochemical scientists think Harmful Become an endangered species.

“My voting record and 36 years of service to my community clearly represent my values. Since my husband passed away five years ago, my financial advisor has been my partner, as evidenced by my recent disclosures. As such, I have sought to align my investments to reflect these values,” Pellerin said in a statement Wednesday. “The LA Times investigation was timely as the company had been selling since March of last year pursuant to a fiduciary plan.”

Pellerin also sold his stake in tobacco company Philip Morris in March 2022, according to his latest financial disclosure.

Environmentalists circulated a Dec. 17 Times report expressing concerns about Mr. Pellerin's stock holdings.

“We really appreciate Mr. Pellerin's swift climate action to align investments,” Sierra Club California Chairman Huiying Yip said Wednesday.

Mike Young, senior political and organizing director for California Environmental Voters, also praised Pellerin's sale. “She has been a great ally and we will definitely encourage other members of Congress to do the same,” he said.

One-third of California state legislators have reported investments worth at least $14 million in 2022, the Times reported. Elected officials and other public officials who influence government decisions must report their income, assets, assets, etc., as well as their investments, including stocks, bonds, and business partnerships. gifts they received, About the annual report on economic benefits.

This requirement is intended to hold officials accountable for potential conflicts of interest, but it also makes clear when officials' financial investments differ from how they represent themselves to the public.

The other lawmakers profiled in the Times story have not made any major changes to their stock portfolios, according to disclosure reports some filed in December amid their re-election campaigns.

For example, even though Rep. Josh Lowenthal (D-Long Beach) has been a vocal critic of the potential harm social media poses to children, I have not withdrawn from the company.

Times staff writers Queenie Wong and Hannah Wiley contributed to this report.