America’s biggest state pension funds came under rising pressure on Tuesday to dump coal companies from their combined $500bn portfolio, in a major escalation of the fossil fuel divestment campaign.
The California senate leader, Kevin de Leon, said he was introducing a bill on Tuesday calling on the two state funds – CalPERS, the public employees’ pension fund, and CalSTRS, the teachers’ pension funds, drop all coal holdings.
The bill is part of a larger package of climate measures – endorsed by Governor Jerry Brown – aimed at gearing up California’s efforts to fight climate change.
February 10, 2015
