Opinion: MainePERS has the means to divest, but not the will

PORTLAND PRESS HERALD • March 19, 2024

The effects of our changing climate are having a big impact, and yet in many ways it is business as usual. In 2021, in recognition of the climate crisis, the Maine Legislature passed a law requiring the state’s public pension fund, the Maine Public Employees Retirement System (MainePERS) to divest its holdings in fossil fuel companies by 2026. However, not only will MainePERS not meet the 2026 target date, they will not even be making substantial progress. When it comes to comes to moving away from fossil fuels, the response is that we are too small to be leaders; we are followers. I disagree. MainePERS’ most recent divestment report lists its fossil fuel exposure to be greater than $1.2 billion. To change our trajectory on climate change impacts, it will take bold action, not the kind of inaction displayed by MainePERS leadership. ~ Don Witherill retired after 42 years with the Maine Department of Environmental Protection