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Maine Senate passes bill to divest state investments from fossil fuels

Maine Senate passes bill to divest state investments from fossil fuels Air pollution rises from cooling towers at a lignite fired power plant in Germany. The Maine Senate has passed a bill that would require the state, including the $16.7 billion Maine Employees Retirement System, Augusta, to divest from fossil fuels. The legislation says the state treasurer’s office and the pension fund’s board of trustees may not invest any assets in fossil-fuel-related companies, including the 200 largest publicly traded companies with fossil fuel reserves; any company that has as its core business the exploration, extraction, refining, processing or distribution of fossil fuels, or the construction or operation of fossil fuel infrastructure; and the 30 largest publicly traded owners of coal-fired power plants.

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