Investing less in fossil fuels is a sound (and sustainable) transaction

This week, Mayor Brandon Scott signed into law legislation requiring Baltimore’s three employee pension funds to divest themselves from the fossil fuel industry. Given how controversial divestment proposals have been in the past when social responsibility has run up against high profitability (guns, tobacco, and alcohol to name a few), leaving Exxon Mobil, Chevron and their peer stocks behind proved rather anti-climactic. No protests. No harangues about pension costs down the road. No dissenting voices, frankly.