Climate activists call on New York state to divest from fossil fuels
February 27, 2019 01:37 PM
Climate activists are sending a message to New York State Comptroller Tom DiNapoli about the state's investments.
A rally at the Capitol Wednesday morning called on the state to drop its pension investments in the oil and gas industry. The group puts the number at $13 billion.
The comptroller's office says the fund's holdings are $5.8 billion out of a total of $200 billion pension fund.
This rally is leading up to a March 20 forum for a Green New Deal, a proposal that's come into the national spotlight in the last few weeks.
The comptroller's office released the following statement:
"Climate change is one of the greatest risks facing investors today. That’s why under Comptroller DiNapoli's management, the state’s pension fund has done more to address climate risk and shift investments away from the worst carbon emitting companies than any pension fund in the United States. Those pushing for divestment care deeply about climate change, but could better use their energy advocating for systemic solutions like carbon pricing and lower emissions requirements, instead of trying to micromanage the one pension fund that is doing more than any other to address climate risk and safeguard the retirement security of 1.1 million New York public workers and retirees."
Updated: February 27, 2019 01:37 PM
Created: February 27, 2019 01:18 PM
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