5,000 signatures reached
To: New York State Comptroller Thomas DiNapoli
Let's Divest New York State from Fossil Fuels!
We call on you to immediately freeze any new investments in fossil fuels and within five years to divest from direct ownership and any commingled funds that include fossil fuels. We encourage you to re-invest the Common Retirement Fund in sustainable solutions.
Why is this important?
New York State is one of the largest and most visible institutional investors in the world. It could also be one of the first to divest from destructive fossil fuels.
At $160 billion, our state's Common Retirement Fund is the third largest pension plan in the country, and it's heavily invested in the fossil fuel industry. Climate change is real, it's here, and it's endangering the biodiversity and natural resources we depend on, as well as the physical infrastructure that makes our state run. So why are we invested in the very companies driving this crisis?
Comptroller DiNapoli has the power to divest New York State from fossil fuels. Divestment has the power to rein in the fossil fuel industry and support our transition to a clean energy economy. With the evidence mounting that fossil fuel stocks are overvalued, divestment also protects our public funds from serious financial risks.
Around the country, a movement is brewing to divest public institutions from fossil fuels, and it's growing every day. It's growing because divestment is both the smart thing to do and the right thing to do.
It's time to divest New York State from fossil fuels and invest our public money in a sustainable future.