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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.”
 

Judy Fahys has reported in Utah for two decades, covering politics, government and business before taking on environmental issues. She loves covering Utah, where petroleum-pipeline spills, the nation’s radioactive legacy and other types of pollution provide endless fodder for stories. Previously, she worked for the Salt Lake Tribune in Utah, and reported on the nation’s capital for States News Service and the Scripps League newspaper chain. She is a longtime member of the Society of Environmental Journalists and Investigative Reporters and Editors. She also spent an academic year as a research fellow in the Knight Science Journalism program at the Massachusetts Institute of Technology. In her spare time, she enjoys being out in the environment, especially hiking, gardening and watercolor painting.
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