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CalSTRS to complete its divestment from coal

The board of the California teachers’ pension fund, the nation’s second largest public pension fund voted to exit from all non-U.S. based thermal coal investments, after approving a similar move for all U.S.-based coal facilities last year.

CalSTRS three global holdings represented only $8.3 million out of the fund’s $206.5 billion in assets. The U.S. holdings were even smaller, only $1.5 million.

“We determined that given the financial state of the industry, the movement of the regulatory landscape and coal’s impact on the environment, its presence reflects a loss of value,” CalSTRS’ Sharon Hendricks said last year.

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