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s Governor of
California Jerry Brown signed a much-applauded bill into law on Thursday,
fossil fuel divestment activists celebrated as the two largest public pension
funds in the U.S. will now be forced to divest from any company whose primary
profits are related to the mining or use of thermal coal.
The new law, introduced by Senate leader Kevin de León
(D-Los Angeles) as S.B. 185, requires that both the California Public
Employees’ Retirement System (CalPERS) and California State Teachers Retirement
System (CalSTRS) sell such holdings by July of 2017. Any future investments in
coal mining or highly-related businesses are also prohibited by the law.
Read the EcoWatch
story - “California Governor Signs Ambitious Climate Change Bill Forcing Public Pensions to Divest From Coal”.
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