“Over the past several years, pension funds in Scandinavia have announced divestment from oil and gas companies, and the NEST retirement savings fund in the UK, that is, the government-managed IRA-like fund into which workers are defaulted if their employers don’t otherwise provide benefits, has said it will likewise pull its assets from coal mining, tar sand oil production, or arctic drilling.
In the United States, in 2020, a pair of representatives proposed legislation that the Thrift Savings Plan, the 401(k)-like plan for government employees, likewise ‘decarbonize.'”
[COMMENTARY]As much as I believe that it’s right for pension funds to go fossil-fuel-free, I think it inappropriate for governments to mandate them.
Is Mandatory Fossil-Fuel Divestment Coming For Your 401(k) And IRA? And How Much Will It Cost You? By Elizabeth Bauer, October 24, 2021, Forbes, USA.