The bad news continued for the coal industry on Wednesday as the California Assembly passed a bill that would require the states pension funds CalPers and CalSTRS to liquidate their investments in coal companies. The two public employee pension funds manage a combined $476 billion in assets.

Why Coal?

According to the bill’s author and California Senate President pro Tempore Kevin de Leon, the opposition to public coal investments is not just a matter of dollars and cents. “It’s a nuisance to public health and it’s inconsistent with our values as a state on the forefront of efforts to address global climate change,” he said of the bill.

Who Are The Losers?

CalPers is currently invested…

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