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.