MAINE PUBLIC • July 11, 2024
About three dozen protesters marched and sang in front of the Maine Public Employee Retirement System offices in Augusta Thursday to draw attention to what they consider is its failure to rapidly divest from oil and gas companies fueling the climate crisis. A 2021 state law demanded that Maine PERS pull all its investments from fossil fuels. But Divest Maine campaign manager Hope Light said the agency has dragged its feet. Switching from oil, gas and coal will bring the same or better returns for Maine retirees, Light said, and would limit the system's risk as the public turns away from fossil fuels. Maine PERS said it has implemented the law in accordance with its sound investment criteria and fiduciary obligations.