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California quietly shelves $15 billion pension…

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Tuesday, September 3rd 2024

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Politics |
California quietly shelves $15 billion pension divestment bill

Wind turbines generate electricity off of Indian Avenue north of Palm Springs. As more Californians consider pivoting to green investment portfolios, a state bill that would have forced the state’s largest pension funds to divest from fossil fuels will not get a floor vote. (File photo by Rodrigo Pena, Press-Enterprise/SCNG)
Wind turbines generate electricity off of Indian Avenue north of Palm Springs. As more Californians consider pivoting to green investment portfolios, a state bill that would have forced the state’s largest pension funds to divest from fossil fuels will not get a floor vote. (File photo by Rodrigo Pena, Press-Enterprise/SCNG)
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Under the proposal, two giant pension funds would have been required to remove assets of large oil and gas companies by 2031 and halt any new investments by 2024. 

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