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DIVESTMENT BILL PITCHED AS WAY TO SPEED DECLINE OF FOSSIL FUELS

By Andy Metzger
STATE HOUSE NEWS SERVICE

STATE HOUSE, BOSTON, OCT. 11, 2017....Forecasting the global regulatory climate will become more resistant towards oil and gas producers, environmentalists pressed lawmakers Tuesday to force the state's pension fund out of fossil fuel investments.

A representative for the oil and gas industry countered that proposed restrictions could hamper the fund's ability to invest in renewable ventures by energy companies that maintain refineries.

Environmentalists, who were joined by some public sector union heads, made a two-pronged argument to the Public Service Committee. Fossil fuels are a losing investment, they said, and the multi-billion dollar pension fund should be used as an instrument to slow global warming.


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