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New York: Divest from Fossil Fuels

Betamia Coronel, Queens

New Yorkers' money shouldn't be invested in the companies that caused Hurricane Sandy.

Four years ago, I was sitting in my home. Without power and scrolling through social media on my phone, my feed was overwhelmed with the utter devastation unfolding in my city. We were witnessing one of the strongest storms of the century hitting the Northeast. As I continued to scroll, it became clear: the city I love -- that has been my home since I was a child -- was in grave danger.

I remember the deep sadness I felt, watching in real-time as neighborhoods in the Rockaways, Brooklyn, Staten Island and across New York City were overtaken by the storm surge. I will never forget the images of the Brooklyn Battery Tunnel completely submerged, and thinking: this is what climate change looks like. For too long we have allowed the bad actors -- fossil fuel companies dumping carbon in our atmosphere at rates our planet cannot sustain -- to go unchecked. Institutions like the New York retirement system institutions that  are intended to protect us and our communities continue to legitimize this greed-sickened business model by investing taxpayer money in these corporations and allowing fossil fuel companies to continue to creep into every fabric of society, making us believe there is no other alternative.

To the city and state that I love, New York, and the all the people in it: We can make a difference in the fate of our homes and communities by asking those who represent us to cut ties with the companies that are knowingly causing our planet to go into chaos. New Yorkers have always demonstrated leadership and courage in the face of great obstacles. We can set the example for other major cities across the US and around the world for what it looks like to take a bold stand against the rogue fossil fuel industry and climate change. New York City and State hold the third largest pension systems in the world and working class New Yorkers have already lost more than $5.3 billion by continuing to invest in the top 200 fossil fuel corporations. We need our representatives -- elected officials, pension board trustees, Council members and more -- who have made a commitment to protect us and our best interests to make the right decision and divest New York’s pension funds.

Join us to #DivestNY by signing this petition today!

Dear Comptrollers DiNapoli and Stringer — divest New York from all fossil fuels!


Help us end the influence that the fossil fuel industry exerts over our economy and our democracy. Direct the six New York State and City pension funds, in total $350 billion, to:

  1. Immediately stop any new investments in the top 200 fossil fuel companies,

  2. Drop coal, oil and gas from your investment portfolio by divesting from the top 200 fossil fuel companies by 2020, and

  3. Commit to and prioritize reinvesting at least 5 percent of your portfolio into climate solutions defined as, but not limited to, renewable energy, energy efficiency, clean technology, community adaptation funds, transit, and clean energy access.

Dear Comptrollers DiNapoli and Stringer — divest New York from all fossil fuels!

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