Maine Governor Janet Mills Signs Law Forcing Public Funds to Cease Carbon Investments

Posted on 06/17/2021

Maine Governor Janet Trafton Mills signed a bill to require the state’s public funds to divest from fossil fuels. These public funds will have to drop investments in coal, petroleum, natural gas and related products. Impacted investors includes Maine’s state treasury and the Maine Public Employees Retirement System. According to SWFI data, Maine Public Employees Retirement System holds shares in a number of oil companies including Exxon Mobil Corporation and Chevron Corporation.

The Maine State Legislature voted to pass the bill earlier in June.

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