Maine PERS and Climate Change: A Troubling Connection
The Maine Public Employee Retirement System is controversially using taxpayer money to exacerbate climate change. Despite a state law from 2021 mandating divestment from fossil fuels, Maine PERS has chosen to ignore this directive, raising serious concerns about their commitment to both the environment and the law.
State workers’ salaries, funded by our taxes, contribute to the Maine PERS pension fund. The legislature’s intent was clear: divest from fossil fuels to protect our planet. However, Maine PERS’s decision to continue investing in harmful infrastructure is both puzzling and troubling.
Research indicates that had Maine PERS adopted divestment strategies two decades ago, the pension fund would be more robust today. This underscores the financial viability of divestment, which is often cited as a concern by Maine PERS officials.
The alarming scientific consensus shows that we are on a dangerous path towards making the Earth uninhabitable within our lifetimes. This raises the question: why is Maine PERS endangering our future?
Understanding the Resistance to Divestment
Maine PERS staff and trustees fear that divesting from fossil fuels will lead to a cascade of other divestment demands, such as those related to PFAS contamination. However, the key difference here is the legislative mandate specifically targeting fossil fuel investments.
Another issue is the minimization of climate risks by Maine PERS staff, who often rely on emotional shortcuts rather than logical analysis. This mindset prevents them from acknowledging the severe implications of climate change.
Some of these emotional shortcuts include:
- Belief in a corporate culture where profit is the sole priority
- Resentment towards external mandates such as climate change advocacy
- Assumption that life will continue as usual, ignoring looming climate threats
These shortcuts contribute to a dangerous underestimation of climate risk, which hampers proactive measures necessary for safeguarding our future.
The Psychological Barriers to Climate Action
Our brains are wired to focus on immediate dangers rather than long-term threats like climate change. This psychological tendency means that by the time we are truly alarmed by chaotic weather, it may be too late to reverse the damage.
Minimizing climate risk is an unconscious emotional defense mechanism, but it can lead to complacency. This complacency prevents us from taking the crucial steps required to protect our children’s future.
Moreover, the fossil fuel industry invests heavily in conservative leaders and media to downplay climate change, further buying public belief and loyalty. This financial influence distorts public perception and hinders meaningful action.
Recognizing these psychological barriers is essential for understanding the broader resistance to climate action. Addressing them could pave the way for more effective strategies and policies.
Urgent Need for Accountability and Change
The five thinking shortcuts previously mentioned contribute significantly to our collective inability to address climate risks. These emotional defenses help us cope with daily life, but they also lead to dangerous levels of minimization.
Maine PERS staff fail to see the necessity for divestment strategies that not only yield good returns but also align with our environmental goals. Over the past year and a half, there has been consistent resistance to even considering such strategies.
Without external pressure, Maine PERS is unlikely to divest from fossil fuels. This resistance highlights the urgent need for beneficiaries and elected leaders to demand accountability and action from Maine PERS.
Our children’s future depends on the decisions we make today. It is imperative that Maine PERS aligns its investments with the pressing need to combat climate change and protect our planet.
Connor_Radiant
Great article! It’s high time we hold institutions accountable for their role in climate change.
felix5
Why isn’t there more media coverage on such an important issue? 😤
LilyStardust
Thank you for shedding light on this. Definitely sharing this with my friends. 🌍
JosephQuester
Who else finds it ironic that they’re supposed to be looking out for our future but are investing in destroying it?
elijah_horizon
Is there any way for the public to put pressure on Maine PERS to divest?
Victoria7
So frustrating that our tax dollars are being used this way. We need more transparency!
Kennedy
Wow, this is shocking! How can Maine PERS just ignore the law like that?