Lege Trend: Politically Motivated Pension Divestment

10 years ago, divesting public funds from DARFUR was all the rage. This week’s divestment target is coal. 

The California legislature is moving a bill to diverst CALPERS and other state investment funds from any coal investments.

Considering that the California investment funds total  $476 billion in assets, it could be no small potatoes for the state “to liquidate holdings in companies that generate at least half of their revenue from coal mining by July 2017.”

Investing from the statehouse is the new legislating from the bench and is certain to return to Texas. 

Reuters