We ♥ NY. But what we don't love is New York's investments in fossil fuel companies driving climate destruction. It's time to divest New York.
5 YEARS AFTER SUPERSTORM SANDY
WE REMEMBER. WE RESIST. WE RISE.
Saturday, October 28, 11am
Cadman Plaza, Brooklyn, NYC
We are joining with organizations across the city to remember, resist, and rise together.
Five years ago, Sandy flooded our subways, destroyed our homes, and took loved ones from us. And just like in Florida and Texas, the people hit hardest by Sandy were the poor, people of color, immigrants, and otherwise vulnerable communities.
We cannot wait any longer. Every politician in New York, from the city to the federal level, must act on climate now.
Save the date – on October 28th, join with thousands of New Yorkers to demand a better future.
We want you to do more for our climate future. It’s time to divest New York’s pension funds from fossil fuels. Direct the six New York State and City pension funds, in total $350 billion, to:
Immediately stop any new investments in the top 200 fossil fuel companies,
Drop coal, oil, and gas from your investment portfolio by divesting from the top 200 fossil fuel companies, pipeline companies, and fossil fuel funds by 2020, and
Commit to and prioritize reinvesting at least 5 percent of your portfolio into climate solutions such as, but not limited to, renewable energy, energy efficiency, clean technology, transit, and clean energy access.
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The world is watching New York. Under the regressive Trump administration, we need NY to be a true beacon of safety and sanctuary, but New York city and state pension investments in oil, gas and coal companies fueling the climate crisis stand in the way. ExxonMobil is one of New York State pensions’s largest investments at over $1billion, even as its own Attorney General Eric Schneiderman leads the charge in investigating the corporation for what could be the worst case of corporate fraud in history. The state has over $5 billion invested in companies that frack – poisoning our water, destroying our lands – even though fracking is banned across the state. This is double talk worthy of a Trump not NY. We need New York to step into its climate leadership and inspire a nation.
How much $ are we talking?
The total combined value of the New York City and State is more than $350 billion, making these amongst the largest pension funds in the United States and world. With more than $12 billion invested in fossil fuel companies like Exxon, Enbridge, Chevron and the companies behind the Dakota Access Pipeline – the city and state funds are certainly fueling climate destruction. One of the largest holdings in the state and city funds is the infamous ExxonMobil. Read more about the NY Pension Funds.
We all live in the fossil fuel era, but it needs to come to an end, and soon — before more irreparable damage is done to our world. Fossil fuels are the main driver of climate change, and behind other major catastrophes such as oil spills, air pollution, contaminated drinking water from fracking, etc. Moreover, companies like ExxonMobil are under investigation for having deliberately misled the public, shareholders and governments over climate change science and risk for decades to protect their profits.