MAINE ENVIRONMENTAL NEWS • June 8, 2021
The Maine State Legislature passed LD 99, An Act To Require the State To Divest Itself of Assets Invested in the Fossil Fuel Industry. The bill, sponsored by Representative Maggie O’Neil of Saco, had received support from the statewide Maine Youth for Climate Justice coalition, numerous environmental advocacy organizations such as Sierra Club Maine and 350 Maine, and State Treasurer Beck. While 1325 institutions worldwide have made similar pledges after grassroots activism efforts, Maine is now the first state in the nation to commit to fossil fuel divestiture through legislation. The bill, when signed into law by the governor, would direct the State Treasurer to divest the $17 billion Maine Public Employee Retirement System from their $1.3 billion of investments in coal, oil and gas companies by 2026.