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Bill to divest state's public pensions from coal heads to Gov. Jerry Brown

Bill to divest state's public pensions from coal heads to Gov. Jerry Brown

Lawmakers in the Assembly gave final approval Wednesday to a measure that would require the state's public pension funds to divest from their holdings in thermal coal. The measure by Senate leader Kevin de León (D-Los Angeles) would prohibit the state's public employees' pension fund, CalPERS, and the teacher's retirement fund, CalSTRS, from making new investments in coal companies. It also would require the funds to liquidate their existing investments in coal by July 1, 2017. "California is a world leader in the fight against climate change. Certainly we can find more sustainable and profitable investments for our public pension funds that better...

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