Activists: Mass. should divest from fossil fuels
BOSTON (AP) — Activists are pressing Massachusetts lawmakers to support a bill that would divest the state pension fund from fossil fuels.
Advocates are planning to rally in front of the Statehouse on Wednesday to call for passage of the legislation.
The measure would require the state pension plan be divested of direct holdings in fossil fuels within five years and that the Pension Reserves Investment Management Board stop making any new investments in fossil fuel companies.
Those pushing the measure say it makes no sense for Massachusetts to invest in companies that are harming the climate and work against the state’s efforts to develop sources of renewable energy.
They said the bill would put the state at the forefront of a national divestment movement.
The bill is sponsored by Democratic state Sen. Benjamin Downing from Pittsfield.