State Attorneys General are warning California Governor Jerry Brown about the looming divestment vote that could have significant implications for the state’s economy. The vote, which is scheduled for next month, will determine whether the state should divest from certain fossil fuel companies.
Governor Brown has been a vocal supporter of efforts to combat climate change and reduce greenhouse gas emissions. However, some state AGs are expressing concerns about the potential economic impact of divesting from fossil fuel companies. They argue that divestment could harm the state’s pension funds and lead to higher energy costs for consumers.
State AGs are also concerned about the legal implications of divestment. They warn that divesting from certain companies could violate the fiduciary duty of pension fund trustees and expose the state to costly lawsuits.
Governor Brown has not yet taken a stance on the divestment vote, but he has acknowledged the concerns raised by the state AGs. He has stated that he will carefully consider the economic and legal implications of divestment before making a decision.
The outcome of the divestment vote could have far-reaching consequences for California and other states that are considering similar measures. State AGs are urging Governor Brown to carefully weigh the potential risks and benefits of divestment before taking action.
In the coming weeks, Governor Brown will face a difficult decision as he navigates the competing interests of environmentalists, pension fund trustees, and consumers. The state AGs’ warnings serve as a reminder of the complexities involved in addressing climate change and the importance of considering all stakeholders in the decision-making process.
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