- Associated Press - Wednesday, April 13, 2016

MONTPELIER, Vt. (AP) - A special subcommittee of the panel that oversees Vermont’s retirement funds says it needs time to study divesting from fossil fuel companies.

Members of the panel who met Wednesday agreed that they would not be able to complete their work before lawmakers adjourn for the year.

Gov. Peter Shumlin has been pushing lawmakers to divest from coal companies and from ExxonMobil, which he says hid what it knew about the dangers of climate change for decades - a charge the company denies.

No legislation has resulted, but the House passed a resolution and senators penned a letter asking the Vermont Pension Investment Committee to study possible divestment.

Committee Chairman Tom Golonka says the panel will make a progress report by May’s adjournment, but needs more time to report fully.


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