NYC pension funds to divest $4 billion from fossil fuels
New York City officials announced this week that two pension funds for city workers will pull an estimated $4 billion in investments from fossil fuel companies in order to promote clean energy use.
“The divestment from fossil fuels is possible and necessary,” said City Comptroller Scott Stringer, who joined Mayor Bill de Blasio at a video briefing on Tuesday. “Smart investment policy and smart climate solutions go hand in hand. And we are putting our money where our mouth is.”
Several dozen universities have already stopped investing, at least partially, in fossil fuels, often under pressure from students.