OPINION: Unions should divest from fossil fuels while it still can
Dear Brooklyn Eagle Editor:
Unlike a recent opinion piece in the Brooklyn Eagle — Cuomo and de Blasio should not force unions to divest from fossil fuel companies — I strongly support divesting public pensions and other funds from climate wrecking fossil fuels.
I lived in Bed-Stuy until recently and still own an apartment here. As my wife is a retired state work, I am a beneficiary of the state pension fund. As the authors of the opinion piece noted, New York is unusual in that there is a constitutional requirement to treat public pensions as a contractual obligation. What the authors failed to note is that this means that the taxpayers rather than the employees are the ones that bear the risk for any shortfall in the pension funds.