New York City Moves to Divest Pension Funds from Fossil Fuels

HeadlineJan 10, 2018
H17 pensions

In more climate news, New York City Mayor Bill de Blasio is slated to announce today that New York City is divesting the city’s five pension funds of $5 billion in fossil fuel investments. New York City officials are citing climate change as the reason for the divestment, which they say is the largest of any municipality so far. New York City Comptroller Scott Stringer said, “Safeguarding the retirement of our city’s police officers, teachers and firefighters is our top priority, and we believe that their financial future is linked to the sustainability of the planet.” In response, 350.org co-founder Bill McKibben tweeted, “One of the biggest days in 30 years of the climate fight. Earth’s mightiest city now in full-on fight with its richest, most irresponsible industry.”

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