MAINE PUBLIC • January 5, 2026
Maine's public retirement system has missed a 2026 deadline to fully divest from fossil fuels set five years ago, to the disappointment of some environmental advocates. The Maine Public Employee Retirement System (MainePERS) said it has about $1.15 billion invested in the fossil fuel sector as of last June. That's roughly 5% of its total investment portfolio, according to a end-of-year report to the Legislature. The agency said it stopped making investments in the sector in 2017. Fossil fuels as a share of its portfolio has gradually dropped and will be around 4% by 2028, according to the agency. But it "does not believe further active divestment from fossil fuels would be in the best financial interests of members as benefit recipients, as further action would conflict with both the trustees’ duty of loyalty and its duty of prudence to our members," MainePERS said in the report.