Being slow to dump coal has cost Vermont $11.5 million

Best Coal-Fired Project

MONTPELIER, Vt. (AP) — Gov. Peter Shumlin is continuing his push for Vermont to drop its fossil fuel investments. He points to a report from the financial firm Clean Yield Asset Management that if the state had divested from coal in September of 2012, its pension funds would have an extra $11.5 million today.

Shumlin has said Vermont should drop coal and Exxon Mobil Corp. from its pension portfolio. He singles out the oil giant he accuses of hiding information about climate change for years, an allegation the company denies.

Shumlin wants the state to studying ridding its portfolio of other oil and gas companies as well. He says it's part of a campaign to combat climate change.

State Treasurer Beth Pearce is resisting the move.

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