unions PEP Jan Feb 2018

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...]