Gotham Gazette

The Place for New York Policy and politics

divestment

divestment

  • divest ny fos

    A protest to push for New York pension system divestment from fossil fuel stocks (photo: @350)


    The oil and gas industries are experiencing significant upheaval as the coronavirus pandemic decimates economies across the globe. The price of crude oil in the United States temporarily fell below $0 per barrel for the first time ever last month, prompting renewed energy among activists and elected officials in New York who want to rid the state pension fund of all investments in the fossil fuel industry.

    But the one person they must convince, State Comptroller Tom DiNapoli,

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  • pension divestment stringer de blasio

    Mayor de Blasio & Comptroller Stringer (photo: Benjamin Kanter/Mayor's Office)


    Amid the larger discussion about addressing climate change before it’s too late, debate is raging in New York over whether government-run and -affiliated pension funds worth hundreds of billions of dollars and responsible for payments that support hundreds of thousands of retirees should divest from fossil fuel company stock.

    Advocates, elected officials, and others have been pushing at the city and state levels for full divestment so that the pension funds

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