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A study, out of the University of Waterloo in partnership with Stand.earth, analyzed the public equity portfolios of eight major U.S. public pension funds to determine the effect divesting from their energy holdings would have had. In total, researchers estimate that the pension funds would have seen a return on their investments that was 13% higher on average.

Another analysis of the same eight U.S. public pension funds included in the report found that the carbon footprint that would have been reduced had they divested 10 years ago is equivalent to the emissions for powering 35 million homes per year.