Maine $17B Pension Fund Directed To Divest From Fossil Fuels

In a U.S. first, the state of Maine has passed legislation – bill LD99 – directing the $17 billion Maine Public Employee Retirement System (PERS) to divest $1.3 billion from fossil fuels within 5 years and directs the Treasury to do the same with other state funds. The move makes Maine the first U.S. state…

Agenda – NYC Announces $4 Billion Fossil-Fuel Divestment

New York City officials this week announced plans to divest nearly $4 billion in pension funds from fossil-fuel companies. Mayor Bill de Blasio and Comptroller Scott Stringer said two of the city’s five pension funds — the New York City Employees’ Retirement System and the New York City Teachers’ Retirement System — voted to approve…

Norway to ditch oil stocks from Norges Bank fund – Central Banking

Norway’s government has asked the central bank to sell any oil stocks held in its sovereign wealth fund, after a review concluded this would reduce the economy’s exposure to oil price risk.The Government Pension Fund Global, managed by Norges Bank, is built on the revenues from Norway’s oil industry. But by investing in stocks related…

Cambridge University throws weight behind impact investing | News | IPE

The council of Cambridge University has made a landmark commitment to addressing climate change in its £3bn (€3.4bn) endowment fund following months of pressure from students and staff.The council endorsed divestment from fossil fuels and encouraging environmental impact investment not only by the endowment fund (CUEF) but by investors generally.It also plans to hire an environmental,…