LD 99: Maine Requires State Pension to Divest from Fossil Fuels
Summary
LD 99, enacted in June 2021, requires Maine's Public Employees Retirement System to divest from the fossil fuel industry by 2026. It specifically prohibits investment in the 200 largest public fossil fuel companies, as determined by the "carbon in the companies' proven oil, gas and coal reserves." The law exempts "[s]hort-term investment funds that commingle commercial paper or futures."
Impacted Sectors
Additional Information
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