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New York Gov. Cuomo Moves to Divest Pension Funds from Fossil Fuels

HeadlineDec 20, 2017

And in a major victory for environmentalists fighting climate change, New York Governor Andrew Cuomo said Tuesday he’ll work with the state comptroller to divest New York’s massive public pension fund from fossil fuel companies. The so-called de-carbonization roadmap seeks to phase out investments in companies that trade in coal, oil and gas, while investing in green technologies like solar and wind. New York’s Common Fund manages over $200 billion in retirement savings for more than a million New Yorkers. It currently holds shares of more than 50 oil and gas companies, with over a billion dollars invested in ExxonMobil alone.

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