climate change

Union Rallies for Climate Justice

April 9, 2019 // 0 Comments

By MIKE LEE The union came out in force at City Hall Park to demand action on climate change and to support proposed legislation before the City Council. The legislation, Intro 1253, calls for direct proactive measures to address this vital issue and urges the creation of thousands of green jobs throughout the city. At the rally, DC 37 Executive Director Henry Garrido addressed the city pension issue. As a trustee overseeing the pension, Garrido has led efforts to divest from fossil fuel investments and shift money to green energy. Garrido told the crowd that city pension fund trustees are working to double the fund’s investments in climate change solutions to $4 billion. He said, “We are fighting for this because it is right thing to do. We cannot expect anybody else to do this for us. New York City should be the leader in taking a stand for climate justice.” The action was part [More...]

Pension System to Adopt New Investment Strategy as Fossil Fuel Divestment Moves Ahead

December 21, 2018 // 0 Comments

Mayor Bill de Blasio and Comptroller Scott M. Stringer on Thursday, Dec. 20, announced the next big step in the New York City pension funds’ action to address the risk posed by climate change by divesting from fossil fuel reserve owners – an unprecedented process and the first-of-its-kind in the United States. A request for proposal (RFP) released today seeks advisers to analyze, evaluate, and recommend prudent fossil fuel divestment strategies for the New York City Employees’ Retirement System (NYCERS), the Teachers Retirement System (TRS), and the Board of Education Retirement System (BERS). Together, the three pension systems representing 70 percent of the total assets of the city’s $200 billion pension funds. The RFP will result in a comprehensive analysis of the city pension funds’ holdings and the risks the fossil fuel industry poses to pension assets. This [More...]

Our Pensions and Renewable Energy

October 9, 2018 // 0 Comments

By HENRY GARRIDO Executive Director, District Council 37, AFSCME, AFL-CIO NEW York City Mayor Bill de Blasio, Comptroller Scott M. Stringer and other trustees of the city’s pension funds recently announced a new goal to double the funds’ investments in climate change solutions to $4 billion, or 2 percent of the city’s $195 billion pension portfolio, over the next three years. This plan builds upon an earlier announcement to divest city pension funds from fossil fuels within five years. Opponents have engaged in scare tactics. In recent months, the Daily News has published two hyperbolic op-ed pieces criticizing these moves and falsely assailing the motives behind them. On the internet, opponents exploit the anxieties of pensioners and urge them to sign a petition, essentially just saying no to the future. Safeguarding our retirement As a trustee of the New York City Employees [More...]

March to Fight Climate Change and Support Jobs, Justice

September 4, 2018 // 0 Comments

By GREGORY N. HEIRES DC 37 environmental activists are gearing up for a march on Thursday to protest against climate change and speak up for green jobs. Hundreds are expected to show up to “Rise for Climate Jobs & Justice,” occurring in advance of the four-day Global Action Summit in California later this month. The summit will bring together leaders and activists from around the world to accelerate action to put the brake on dangerous climate change and fulfill the Paris Agreement on the environment. “The Rise for Climate, Jobs & Justice will begin at 6.pm. on Thursday, Sept. 6 in Battery Park in Lower Manhattan. It will move north from the park. One of the march’s aims is to demand that New York elected officials step up the political pressure  to avert a climate catastrophe. Its principal demands of the demonstrators will be to call for: a just [More...]

City Pensions Plan to Dump Fossil Fuel Investments

January 11, 2018 // 0 Comments

BY MIKE LEE New York City Mayor Bill de Blasio, City Comptroller Scott Stringer and trustees of the city’s pension funds struck a sharp chord for the environment on Jan. 10 by announcing a plan to free the funds from the clutches of fossil fuel investments over the next five years.  This move by a major U.S. municipality to divest from fossil fuel companies is first in the nation. It is also a slap back at recent Trump administration moves to hand over drilling rights to oil companies — which are responsible for most of all greenhouse gas emissions in the last century. “Safeguarding the retirement of our city’s police officers, teachers, firefighters and city workers is our top priority, and we believe that their financial future is linked to the sustainability of the planet,” Comptroller Stringer said at a press conference at the Manhattan Youth Center, in in lower [More...]