New York State Announces Historic Pension Fund Divestment

ALBANY, N.Y. – New York State Comptroller Thomas DiNapoli announced that the $225 billion New York State Common Retirement Fund will divest from the riskiest oil and gas companies by 2025 and decarbonize by 2040. 

A statement follows from Rich Schrader, New York Policy Director at NRDC (Natural Resources Defense Council): 

“The climate crisis has been on full display this year with thousands of lives upended all across this country. It’s never been more urgent as a global society to cut the cord with fossil fuel polluters. This historic action will help send market signals that fossil fuels have had their day, and clean energy is the future for New York.”

###

NRDC (Natural Resources Defense Council) is an international nonprofit environmental organization with more than 3 million members and online activists. Since 1970, our lawyers, scientists, and other environmental specialists have worked to protect the world's natural resources, public health, and the environment. NRDC has offices in New York City, Washington, D.C., Los Angeles, San Francisco, Chicago, Bozeman, MT, and Beijing. Visit us at www.nrdc.org and follow us on Twitter @NRDC.​

 

 

Related Issues
Climate Change Fossil Fuels

Related Press Releases

Skip carousel items

EPA’s Carbon Standards Are a Powerful Tool

Press ReleaseUnited States
The EPA’s standards to curb carbon emissions from power plants are crucial to addressing climate change. Strong and comprehensive rules are needed to address this major source of carbon pollution.

Asm. Carrillo and Over 100 Organizations Call on Governor Newsom to Sign AB 1167, the Orphan Well Prevention Act

Press ReleaseLos Angeles
Today, Assemblymember Carrillo and over a dozen advocates with climate, community and environmental justice organizations held a press conference to call on Governor Gavin Newsom to hold oil companies accountable by signing the Orphan Well Prevention Act, AB 1167, into…

NRDC Launches Ads to Support Climate Standards

Press ReleaseWashington, D.C., Pennsylvania, Virginia, North Carolina, Michigan
These proposed EPA standards target the two largest sources of carbon emissions—and build on the historic investments passed by Congress last year that will support clean energy and cleaner vehicles.