Invest our NYC pensions in clean energy!
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New York City Mayor Bill de Blasio, Comptroller Scott Stringer and trustees of NYC’s pension funds recently announced a new goal to double investments in climate change solutions to $4 billion, or 2 percent of the city $195 billion pension portfolio. This plan builds on an earlier announcement to divest city pension funds from fossil fuels within five years.
Opponents have engaged in scare tactics that play on the fears of pensioners who experienced the financial collapse of 2008-09, which was caused by Wall Street’s reckless behavior. Exploiting these fears is also reckless.
Trustees of the pension funds exercise great care in the discharge of their fiduciary duties. Moving from fossil fuels to sustainable, clean energy investments isn’t a pipedream. It is a sound investment strategy that is essential for the long-term health of our economy, for the stability of the pension system and for the pension security of beneficiaries.
Pension trustees have acted responsibly. It is the failure to act that would be irresponsible.
If you believe divesting from fossil fuels is good for the strength of our public pensions; good for the environment; and good for the health and future of our children, please sign this petition.
Please indicate your union membership in a comment! As a member of these pension funds, your voice is needed!
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