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Written by rjs, MarketWatch 666This is a collection of interesting news articles about the environment and related topics published last week. This is usually a Tuesday evening regular post at GEI (but can be posted at other times).
Activists want teachers fund to divest from coal
Massive teachers retirement fund owns coal stocks in China, India
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Student climate activists have been in the forefront of the fossil fuels divestment movement.Times Union file photo
ALBANY A fossil fuel divestment group took aim at the teachers retirement system on Tuesday, urging the organization to divest of the coal stocks they say continue to make up a substantial part of their portfolio. It may be easier said then done, however.
“NYSTRS is increasing its exposure to the coal industry,” said Liam Smith, of New Youth Climate Leaders and Divest NY which have been urging public sector pension funds to divest from coal and other fossil fuel industries they say are adding to greenhouse gases.
Activists want teachers fund to divest from coal thetelegraph.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thetelegraph.com Daily Mail and Mail on Sunday newspapers.
Dai Xianglong
Dai Xianglong, a former governor of the People s Bank of China and former head of the National Social Security Fund, is calling for allocating a proportion of assets confiscated from corrupt officials and a proportion of land transfer fees to replenish pension reserves.
At a pension reserves forum hosted by the Chinese Academy of Social Sciences on December 19, Dai said the amount of assets confiscated from corrupt officials could total billions of yuan.
In recent years, with the increasing number of elderly in China, the sustainability of the pension fund is under threat. In 2019, the balance of social insurance funds nationwide was Rmb585.486 billion, and after fiscal subsidies were excluded, there was a deficit for the seventh consecutive year.