Climate action advocate Bill McKibben welcomed a development he called “a gift to the planet” after Maine state lawmakers on Tuesday passed a groundbreaking bill committing the state to divesting its assets from the fossil fuel industry.
LD 99—”An Act to Require the State to Divest Itself of Assets Invested in the Fossil Fuel Industry”—cleared the state Senate Tuesday in a 19-13 vote. It passed the House last week over the objections of Republicans like state Rep. Michael Lemelin (R-88), who asserted that lowering carbon emissions will kill trees.
The legislation calls on the state treasury and state retirement system not to make any further investments in the fossil fuel industry and sets a 2026 deadline for fossil fuel divestment.
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