Prohibits investment by State of pension and annuity funds in, and requires divestment from, 200 largest publicly traded fossil fuel companies.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill prohibits New Jersey’s state pension and annuity funds from investing in, and requires divestment from, the 200 largest publicly traded fossil fuel companies based on their carbon reserves. Divestment from coal companies must be completed within two years, while divestment from other fossil fuel companies is required within one year. The bill allows for reinvestment if the value of the funds would be negatively impacted by the divestment, and mandates regular reporting on the progress of divestment efforts.
Bill text
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12 on record
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