A new bill that was approved by the California state Senate on Thursday would require two of the country’s largest pension fund to pull $15 billion in investments from oil and gas companies. The measure passed the California Senate with a vote of 23-10, according to Bloomberg, and would require the California Public Employees’ Retirement System (CalPERS) and the California State Teachers Retirement System to stop any new oil and gas investments by 2024, and completely divest from large oil and gas company stocks by 2031.
The Senate…Two Largest Pension Funds In U.S. Could Be Forced Into $15B Oil, Gas Divestment
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