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April 24, 2016

Vermont Divestment Bill Dies Despite Enviromentalist’s Support

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A Vermont Senate committee effectively killed a bill to force the state to divest from investments in Exxon-Mobil:

The Senate Government Operations Committee will hold no vote this week on a bill to force the state’s retirement funds to divest from coal and Exxon-Mobil, Chairwoman Sen. Jeanette White, D-Windham, said Tuesday, effectively killing the bill.

In February 2016, environmentalist and 350.org founder Bill McKibben testified in support of the bill:

Environmental activist and writer Bill McKibben says Vermont lawmakers should consider broader financial implications of the state’s investments as it considers whether to divest from some or all fossil fuel companies. He was among those testifying Friday afternoon at a joint hearing of two legislative committees that also heard state Treasurer Beth Pearce insist that lawmakers not interfere in decisions she said were best left to the committee that oversees the state’s retirement funds.