Spring Forward to #FossilFree: DiNapoli Must DivestNY Rally
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New York, NY – Fossil Free Divest NY, in coordination with community members and dozens of groups across America, held a rally outside the office of the New York State Comptroller in New York City, on May 14, 2018, to press NY State Comptroller Tom DiNapoli divest the state pension fund from its $6 billion in fossil fuel holdings, including $1 billion in ExxonMobil.
This coalition is in coordination with over 100 community groups demanding commitment from our elected officials to: (1) 100% renewables for all; (2) no new coal, oil or gas projects; and (3) not a penny more for dirty energy, with divestment part of this commitment.
DiNapoli is putting the NYS pension fund at risk as he invests New Yorkers’ money in an industry economically and socially on its way out. Over the past few years, fossil fuel companies have experienced significant loss due to declining oil prices and asset write offs, consistently trailing the S&P500. Now, many of them face litigation, including from New York City. In the lead-up to ExxonMobil’s May 31 shareholder meeting, the corporation continues to refuse to disclose the risk of such lawsuits.
The financial prospects of the fossil fuel industry are increasingly uncertain in a warming world, making investments in these companies exceedingly risky. After the commitment from New York City, New Yorkers are lifting up the dangerous use of money in the short-term return on investment, as well as and on the effects on our economy, government and
#350BK #350NYC #Activism #ActOnClimate #AndrewCuomo #ClimateChange #ClimateCrisis #climatejustice #CuomoWalkTheTalk #divest #DivestNY #EnergyDemocracy #energyefficiency #EnergyIndependence #FossilFree #GoFossilFree #GovernorCuomo #KeepItIntheGround #MakeREVreal #NewYork #NYC #NYScomptroller #OffFossilFuels #PecefulProtest #PensionFunds #RenewableEnergy #ThomasDiNapoli
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