Deals
California Teachers Pension to Divest U.S. Thermal Coal Assets
- Board cites industry's financial and environmental trends
- Vote affects $1.5 million of Calstrs's $186.1 billion holdings
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The California State Teachers’ Retirement System board voted to divest from U.S. companies that produce coal for energy generation because of the industry’s ailing finances and environmental impact.
The pension system, with $186.1 billion of assets as of Dec. 31, has about $1.5 million invested in coal company stocks and bonds, according to a statement Wednesday.