Energy (Coal)

New Jersey's S 604 prohibits state pension and annuity funds from investing in the 200 largest publicly traded fossil fuel companies, ranked by carbon content in their oil, gas, and coal reserves. It requires full divestment from these companies within one year (two years for coal companies), with exceptions allowing temporary reinvestment if fund values drop below 99.5% of their hypothetical value without divestment. The bill mandates annual reports tracking divestment progress and compliance to the Governor, Legislature, and Attorney General. This policy directly affects the state's $100+ billion pension funds and their investment decisions regarding fossil fuel holdings.