Well hooray! The California legislature just passed a great law, which is expected to be signed by Governor Jerry Brown: SB185 requires the state’s two largest pension plans to divest their holdings in thermal coal as part of the push this legislative session has to address climate change.
“Coal is losing value quickly and investing in coal is a losing proposition for our retirees; it’s a nuisance to public health; and it’s inconsistent with our values as a state on the forefront of efforts to address global climate change,” the senate president pro tempore, Kevin de León, said in a statement. “California’s utilities are phasing out coal, and it’s time our pension funds did the same.”
See this article in The Guardian for a full write-up. no coal
Leave the coal in the hole!