N.J. could divest its $92B pension fund from fossil fuels. What it means financially and for climate change.
New Jersey would join a growing list of states to divest its pension fund from fossil fuel companies if a long-stalled bill crosses the finish line in Trenton this fall.
The legislation (A1733), now in its fourth iteration after it was first introduced in 2017, has gained new momentum in recent weeks as the fight against climate change intensifies nationwide. It will be considered Thursday by the state Senates environment committee.
Maine enacted a similar law last year, ordering public funds to curtail investments in coal, petroleum, natural gas and other related products by 2026. New York said its $226 billion pension fund will look to divest significantly from fossil fuel stocks by 2025. Get politics news like this right to your inbox with the N.J. Politics newsletter. Add your email below and hit “subscribe”
