In less than 5 years, the global fossil fuel divestment movement has won over 1000 commitments worth nearly $8trillion from institutions ranging from universities and banks, to the world’s largest sovereign wealth funds and major capital cities.
By Betámia Coronel, New Yorker and U.S. National Organizer with 350.org
This election, New York State flipped the State Senate and now has a progressive majority in the Legislature. This gives us an historic opportunity to drive change across the country with bold climate action.
Research firm Corporate Knights revealed that the pension fund would be $22 billion richer had it divested from fossil fuel stocks in 2008. That’s almost $20,000 for of each of the pension fund’s 1.1 million members & retirees. It’s time to #DivestNY