New York City Divests, now it’s time for New York State! 

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DiNapoli: Divest NY now

It's 2019, and New York's public pension fund still has $13 billion in taxpayer money invested in fossil fuel companies. These investments directly fund climate change and disasters like Superstorm Sandy. 

Last year, Governor Cuomo called on State Comptroller DiNapoli to follow the example of New York City and divest the state's public pension funds. Comptroller DiNapoli has refused to do so—which is why we need to turn up the heat.

On February 27, activists from around New York will gather in Albany to hand-deliver to the Comptroller thousands of postcards and letters urging him to pull public money out of fossil fuels. Sign the letter now and help build a Fossil Free New York.

Tell NY State Comptroller Tom DiNapoli to divest from fossil fuels

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PHOTOS FROM SANDY5 AND PAST #DIVESTNY ACTIONS

New York City is rising up for divestment – check here for images from all of the amazing work of the #DivestNY coalition!

 Divest NY Events & #Sandy5 Mobilization

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. New York is one of the world’s financial capitals and home some of the USA’s largest pension funds. While New York City is showing climate leadership by moving forward with divesting from fossil fuel and investing in climate solutions, the NY state pension fund thinks remaining invested and talking to Big Oil (and coal and gas) will help solve the climate crisis.  ExxonMobil is one of New York State pension fund’s largest investments at over $1billion, even as New York’s own Attorney General leads the charge in investigating the corporation for what could be the worst case of corporate fraud in history. The state also 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 $400 billion, making these amongst the largest pension funds in the United States and world. With more than $13 billion invested in fossil fuel companies like Exxon, Chevron and the companies behind the Dakota Access Pipeline, and the State Comptroller actively opposed to divestment, the state pension remains part of the problem. It’s fueling climate destruction. One of the largest holdings in the state pension 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.


#DivestNY Updates

We just had our day in court.

In September, we shut down Third Avenue in front of Gov. Andrew Cuomo’s NYC office to send a clear message: we demand a Fossil Free New York. Here’s how you can join the fight.

By, Lindsay Meiman, native New Yorker and US Communications Coordinator with 350.org

New York City to Divest Billions and Sue Big Oil Companies

New York City Mayor Bill de Blasio makes globally impactful announcement in the fight to stop climate change. NYC will divest $5bn from fossil fuels and launches litigation against some of the world largest oil companies.

See more posts »

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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