Why Maine didn’t come close to meeting a 2026 deadline to divest from fossil fuels

Why Maine didn’t come close to meeting a 2026 deadline to divest from fossil fuels

AUGUSTA, Maine — Nearly five years ago, Maine passed a first-in-the-nation law requiring the state pension system to divest from fossil fuels. Thursday was the deadline to do it. Yet roughly $1.15 billion was still invested in the sector as of December. It has long been clear that the Maine Public Employees Retirement System wasn’t going to meet the deadline. The agency has cited a part of the law that requires it to divest while meeting its “fi…