PORTLAND, Maine - A group of current and retired Maine teachers and public employees is asking the organization that administers their retirement benefits to reduce its investment in the ExxonMobil corporation.
The group today sent a letter to The Maine Public Employees Retirement System - or MainePERS. It's part of an effort organized through the environmental group 350 Maine.
In the last few weeks, the attorneys general of several U.S. states, including Maine Attorney General Janet Mills, have been investigating whether the company has misled the public on the impact of burning fossil fuels.
Karen Marysdaughter is one of the signers of the letter. She says, in addition to environmental, legal and ethical concerns about ExxonMobil, there are also financial concerns.
"Actually the market for fossil fuels is not very good at this point, because the value of oil and coal, especially, has been dropping precipitously, as everyone knows," Marysdaughter says. "So financially they no longer seem to be a good investment."
As of December, 2015, the retirement system had almost $40 million invested in ExxonMobil.
Reached by phone, a MainePERS official said she was unable to provide immediate comment.
