33 New York State Senators, a majority, and over 50 Assembly Members have sponsored the Fossil Fuel Divestment Act (S2126A/A1536A). The Act would direct the State Comptroller to divest the $200 billion Common Retirement Fund from risky fossil fuel stocks within five years.
Our call to you to sponsor the Act comes as the state pension fund’s holdings in energy companies shed billions of dollars in value, amidst the coronavirus pandemic, plunging oil prices and a year of underperformance in the energy sector. Please read this March 2020 analysis by 350.org for more information on the losses suffered by the Fund.
As we are unable to meet you in person, we’d like to share this short video with messages from New Yorkers and others asking you to sponsor the legislation. Members of the DivestNY coalition are here to answer any questions or concerns you may have.
Please consider sponsoring the Act today. If you are already a sponsor – thank you – please urge your colleagues to join you in support the Act.