Massachusetts's senators are debating a bill that would divest the state's pension fund from fossil fuel companies in response to concerns over climate change.
Senate bill S.1225, sponsored by Democratic state Sen. Benjamin Downing, is being considered in the chamber's Joint Committee on Public Service. Committee members have until June 30 to debate the law's merits and consequences to Massachusetts pension portfolio.
This week, students at Stanford University successfully lobbied administrators to divest fossil fuel companies from that school's endowment, and students at Harvard are attempting to do the same. But Massachusetts would be the first state to divest its pension fund from fossil fuels.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
