Norway Votes To Divest From Coal

03:46

June 08, 2015

A conveyor bridge deposits soil removed from one end of the Welzow Sued open-pit lignite coal mine to allow excavators to reach the coal underneath as the Schwarze Pumpe coal-fired power plant stands behind on May 28, 2015 near Welzow, Germany. (Sean Gallup/Getty Images)

Norway's parliament voted Friday to sell off many of the coal investments that are part of the country's $890 billion government pension fund.

The move is significant for the fossil fuel divestment movement, which has received attention on college campuses in the U.S. Another big move in pension funds comes from California, where the California Public Employees' Retirement System intends to cut ties with half of the firms that handle its investments, according to The Wall Street Journal.

Jill Schlesinger of CBS News joins Here & Now's Jeremy Hobson to discuss Norway's move and the divest movement.

Guest

Jill Schlesinger business analyst at CBS News. She tweets @jillonmoney.

This segment aired on June 8, 2015.