Clean Yield, Vermont Businesses Stand With Governor in Support of Coal Divestment

Clean Yield, Vermont Businesses Stand With Governor in Support of Coal Divestment

Shumlin press conference

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On February 3, Vermont Governor Peter Shumlin repeated his call for the state pension fund to divest from coal stocks and ExxonMobil, the oil and gas giant that has been using its resources for two decades to foment climate change denialism. Governor Shumlin was flanked at his press conference by Clean Yield Asset Management, Seventh Generation, Ben and Jerry’s, SunCommon, Sterling College, and Vermont Businesses for Social Responsibility.

At the press event, Clean Yield’s Eric Becker said “The evidence is mounting that divesting from fossil fuels, and coal in particular, is a prudent step for pension fund fiduciaries. It can be done without sacrificing investment returns, and reduces the funds’ risk from potentially stranded assets.”

You can read more about the press conference in a VermontBiz.com story here.

UPDATE: On February 26, the Vermont House passed a Resolution urging the Vermont Pension Investment Committee and the state treasurer to divest from coal stocks and ExxonMobil.

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