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Supporters tell Senate committee divestment from thermal coal is low‑cost, high‑impact; SIB warns of costs and limits
Summary
At a Ways and Means hearing, advocates urged passage of SB 5,439 to phase out SIB investments in thermal coal by 2030, citing about $2.6 billion in coal exposure (roughly 1% of holdings); SIB had earlier cautioned that exclusions can raise fees and reduce diversification.
Proponents of Senate Bill 5,439 told the Washington Senate Ways and Means Committee on Jan. 29 that the State Investment Board should stop new investments in thermal coal beginning in 2026 and fully divest by Jan. 1, 2030. Amanda Cecil, committee staff, summarized the bill: SIB may use a non‑governmental Global Coal Exit List to identify thermal‑coal companies, consult peer funds and adopt transition timelines with limited exceptions; the Department of Ecology will annually review definitions and report differences to the legislature.
Multiple witnesses said SIB held about $2,600,000,000 in companies identified on the Global Coal Exit List in 2022 —…
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