Vermont Governor Peter Shumlin wants the board overseeing state employee, teacher and municipal retirement funds to divest from coal companies and Exxon-Mobil as part of an effort to combat climate change.
Shumlin met with the Vermont Pension Investment Committee on Tuesday and warned that if the panel does not move to divest from the companies, he'll push lawmakers to pass a law requiring that to happen.
House Speaker Shap Smith agrees that the state should divest from coal but would like the board reevaluate its position on continued investment. “I think we are unlikely to see legislative requirements in that regard.”
State Treasurer Beth Pearce reiterated her position that the Legislature should not be involved in that decision, saying it should be left to the investment committee.
But another person on the six-member committee, Karen Paul, said she shares Shumlin's goal.
The Associated Press contributed to this report. Copyright 2016. All rights reserved.
