Bill > SB5439

This bill aims to mandate the divestment of state investment funds from thermal coal companies due to their negative environmental and health impacts. The bill requires the State Investment Board to stop making new investments in thermal coal companies and completely divest from such companies by January 1, 2030. A "thermal coal company" is precisely defined as any company that derives at least 10% of its revenue from thermal coal activities, generates 10% or more of its power from coal, produces over 10 million tons of coal annually, or is involved in coal-related infrastructure and expansion. The legislation defines "clean energy" as non-emitting electric generation and renewable resources, and allows for exceptions if a thermal coal company can demonstrate a credible transition to clean energy on a reasonable timeline. The State Investment Board must annually report to the legislature on its divestment progress, using resources like the Urgewald organization's global coal exit list to identify companies. The bill's rationale is rooted in Washington's commitment to decarbonizing its energy sector and protecting public health, noting that other states and pension funds have already taken similar divestment actions. The goal is to align state investments with clean energy goals while maintaining prudent financial management.

Budget and Finance

https://app.leg.wa.gov/billsummary?BillNumber=5439&Year=2025&Initiative=false