News

Maine becomes first state to divest from fossil fuels

Maine becomes first state to divest from fossil fuels

Photo: 560 WGAN Newsradio


A new law passed in Maine makes it the first state to commit to dumping it’s existing fossil fuel holdings.

According to CBS 13, the new law signed Wednesday by Governor Janet Mills means Maine will commit to moving away from fossil fuels over the next five years. It will require the state cash pool and the Maine Public Employee Retirement System to sell off $1.3 billion from coal, oil and gas companies by 2026.

An independent analysis concluded that fossil fuel holdings have lost value since 2014, and have cost retirees in the state millions of dollars.

The law goes into effect 90 days after the legislative session adjourns.

Latest Headlines

5 hours ago in Local

Maine Agency Issues Recall of Cannabis Vape Cartridges

The recall is for Yani adult use vape cartridges called "Watermelon Chimera."

7 hours ago in Local

Cat Dies in Campground Fire in Farmington

Crews were sent to the fire at 283 Red Schoolhouse Road in Farmington

8 hours ago in Local

Lewiston Police Ask for Return of Items Mistakenly Taken from Closed Store

Officers say they were sent to a report Saturday of people removing items from Goshen Super Market.

8 hours ago in Local

Waterville police respond to 2 unrelated shootings within 24 hours

Waterville police say two shootings reported within 24 hours are not related.

9 hours ago in Local

Manager of Maine U.S. Senate hopeful Graham Platner’s campaign steps down for family reasons

The manager of Graham Platner's campaign for U.S. Senate in Maine is stepping down for family-related reasons.