Divesting from fossil fuels will pay off in long run, NYC comptroller says
Stringer: ‘Hit energy companies where they hurt'
City Comptroller Scott Stringer’s plan to divest city pension funds from fossil fuel stocks has received flack in some investment circles. He made the case on Wednesday, however, that green investing is not just a feel-good idea, but a canny investment strategy that will pay off in the long run.
Stringer oversees almost $200 billion in assets for New York City’s five public pension funds for city employees including teachers, firefighters and police.
In an interview with the Brooklyn Eagle, Stringer said that he strongly disagrees with the notion that fossil fuel stocks and bonds are gold-plated investments.