California Governor Jerry Brown has had a busy week. \u00a0California pension funds will no longer invest in coal, \u00a0a big step forward to a better environment.<\/p>\n
The new law will affect $58 million held by the California Public Employees\u2019 Retirement System and $6.7 million in the California State Teachers Retirement System, a tiny fraction of their overall investments. The funds are responsible for providing benefits to more than 2.5 million current and retired employees.<\/p>\n
De Le\u00f3n pitched the measure as a way to emphasize more secure, environmentally friendly investments.<\/p>\n
\u201cCoal is a losing bet for California retirees and it\u2019s also incredibly harmful to our health and the health of our environment,\u201d he said in a statement.<\/p>\n
In response to the news, executive director of 350.org May Boeve, whose group has led the charge for institutional divestment, championed the effort in California.<\/p>\n
\u201cThis is a big win for our movement, and demonstrates the growing strength of divestment campaigners around the world,\u201d said Boeve. \u201cCalifornia\u2019s step today gives us major momentum, and ramps up pressure on state and local leaders in New York, Massachusetts, and across the U.S. to follow suit\u2014and begin pulling their money out of climate destruction too.\u201d<\/p>\n
California Governor Jerry Brown has had a busy week. \u00a0California pension funds will no longer invest in coal, \u00a0a big step forward to a better environment. The new law will affect $58 million held by the California Public Employees\u2019 Retirement … Continue reading ![\"Jerry](\"http:\/\/www.w-t-w.org\/en\/wp-content\/uploads\/2015\/10\/Jerry-Brown-Ends-Coal-Investment.jpg\")
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