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Health, Science & Environment

Utah Joins States Fighting California's Requirement For Carbon-Based Investments

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Wyoming and Utah are among the states pressing California to do away with a requirement to report carbon-based investments. Mining here in the Powder River Basin and shouldn't be maligned, the states say.

By Madelyn Beck -- Inside Energy

California’s Insurance Department says insurance companies working in-state must report carbon-based investments. 

“I don’t want to sit passively by and then discover in the near future that insurance company’s books are filled with stranded assets that have lost their value because of the shift away from the carbon-based economy,” says Insurance Department Commissioner Dave Jones, who also wants them to get rid of those assets.

Other states are pushing back. Twelve attorney generals from states -- including Utah, North Dakota and Wyoming -- signed a letter June 19th threatening legal action if the requirement stays. They call it "public shaming” and legally questionable.
 
Six state insurance commissioners agree, calling a potential coal industry decline “mere speculation.”
 

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