Divest New York from Fossil Fuels

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.

#sandy5 logo

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.

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Join the #Sandy5 Action

We are a coalition of groups representing thousands of New Yorkers. Five years after Sandy, we are demanding real action on climate. Check out our demands!

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ONGOING ACTIONS

New York City is rising up – check here for images and updates as we lead up to #Sandy5

#DivestNY Board Meeting Action

To New York Comptrollers DiNapoli and Stringer:

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:

  1. Immediately stop any new investments in the top 200 fossil fuel companies,
  2. 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
  3. 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.

I am a member of the NY STATE retirement system

I am a member of the NY CITY retirement system

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Questions:

Why New York?

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.

What is fossil fuel divestment anyway?

Read more about it here.

What’s wrong with the fossil fuel industry?

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.


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Supporting organizations:

Action Corps NYC

Responsible Endowments Coalition

Food and Water Watch

NYS Sustainable Business Council 

Divest Invest Network

Divest Invest Individual  

Divest Invest Philanthropy

Stop NY Fracked Gas Pipeline 

Healthcare Without Harm 

GreenFaith 

Divestment Student Network  

Hip Hop Caucus  

Rockaways Wildfire

NY Progressive Action Network  

Pathway to Paris

New York Communities for Change

New York Lawyers for the Public Interest

American Sustainable Business Council

350 Brooklyn

350 NYC

Working Families Party

New Economy Project

Sierra Club Atlantic Chapter

Sierra Club New York City Chapter

Grassroots Action New York

Croatan Institute

350.org

 

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