It can be done! NYC's Divest/Invest Commitment Protects Pensions and the Planet
Our East Coast neighbors are proving that pensions and the the planet have a shared mutual interest in making the fossil fuel industry history. Below we share their announcement and webinar for other pension managers to follow suit.
NYC Sets Pension Fund Goal to Invest $4 Billion in Climate Change Solutions by 2021
Mayor Bill de Blasio, Comptroller Stringer, and other trustees of New York City’s pension funds have announced a new goal to double the investments of the NYC Funds in climate change solutions. To meet this goal, the City has pledged to have $4 billion dollars—or 2% of its $195 billion pension fund—invested in renewable energy, energy efficiency, and other clean technologies by 2021. New York City is working to change the paradigm for public pension plans and set a new standard for how asset owners, such as pension funds, can use their substantial investments to both do well for our beneficiaries and do good for the planet.
Below is a webinar recording that NYC created to inspire other cities and states to follow their example: