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The Boston Globe

Business

A call for greener investments

Some Massachusetts lawmakers want the state to join a growing national movement that is fighting climate change by pressuring institutional investors such as pension funds and university endowments to divest holdings in companies that produce, distribute, and support fossil fuels.

Fossil fuels include oil, natural gas, and coal, which, when burned, produce carbon dioxide, the major culprit in climate change. Earlier this week, the Legislature held its first hearing on a bill that would require the state pension fund to unload over five years some $1.4 billion in investments — about 2.6 percent of the $54.4 billion fund — in oil companies, mining companies, refiners, and similar corporations. An estimated 200 people rallied in support of the bill in front of the State House Tuesday.

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