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Stop funding destruction

NYS Comptroller DiNapoli must
divest from Exxon and big oil

​FOR IMMEDIATE RELEASE

February 15, 2024

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New York Comptroller misses the mark by only divesting $25 million of $500 million invested in Exxon, neglects divesting from other Oil & Gas majors

Bans new investments in fossil fuel exposed private equity, invests $40 billion in climate solutions

 

*New York, NY – Today, following the hottest year on record, New York State Comptroller Tom DiNapoli, sole custodian of the $285 billion NYS Common Retirement Fund (“Fund”), announced a package of fossil fuel divestment and climate action measures.

 

DivestNY, the coalition that over the last decade has led the effort to divest the major public pension funds in New York from fossil fuels, expressed extreme disappointment in the recent announcement by State Comptroller Tom DiNapoli to divest only $26.8 million of its more than $500 million holdings in ExxonMobil and seven other integrated fossil fuel companies. Last year, DiNapoli reported that the

See the Full Press Release Here

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Youth demand climate action
Save our planet! Save our pension! 
Sign the petition to divest
NY teachers' pension fund from coal, oil and gas

The New York State Teachers' Retirement System (NYSTRS)* has an estimated $4.5 billion** invested in climate destroying fossil fuels with over $500,000,000 invested in Exxon Mobil alone. They have even increased their investments in climate destroying coal in 2021. We call on NYSTRS to stop funding climate destruction and divest its funds from all fossil fuels to save our planet and save our pension. 

Faith leaders call for divestment
Faith leaders across NY
call on NY teachers to divest from fossil fuels

The following letter, signed by close to one hundred New York faith leaders was delivered to the NYSTRS board on January 26, 2023.

Dear Mr. Lee, Mr. Keefe and the members of the NYSTRS board: 

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As people of reason and faith who care for the earth, its inhabitants and its future generations, we call upon you to divest the New York State Teachers' Retirement System from fossil fuels. We are representatives of diverse faith traditions who feel compelled to speak out in opposition to funding fossil fuel projects based on our shared commitment to serve vulnerable communities and to be stewards of our earth and all its inhabitants.

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Global warming caused by humans burning fossil fuels is bringing the earth ever closer to disaster. This past summer gave a glimpse of what the future will look like under climate collapse. Superstorms, extreme heat, flooding and drought are devastating communities and threatening worldwide food supplies. The poor and the most vulnerable among us will continue to suffer the most from these effects of climate change. Continued investment in the fossil fuel industry furthers this injustice.

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SEE THE FULL LETTER HERE

Divest NY Leaders runs for NYS Teacher's Retirement System Board

Over 14,000 Teachers Call for NYS Teacher's Retirement System to Divest from Fossil Fuels

Divest NY's Sally Courtright received 14,246 votes in her campaign for the retired teacher seat on the New York State Teacher's Retirement System board. Sally ran on a campaign to protect the retirement fund from bad investments in fossil fuels that threaten the financial security of the fund and cause fund climate destruction. While she didn't win, she sent a loud and clear message that thousands of NYSTRS members want the fund to divest. Thank you Sally!

Divest NY Calls on Legislative Leaders
to Pass Teachers' Fossil Fuel Divestment Act

Divest NY delivered a letter to New York State Legislative Leaders today signed by over 120 climate, youth, community and faith organizations calling on them to bring the bill to the floor for a vote. See the letter here.

Watch our Divest NYSTRS Webinar

Don't Let Fossil Fuels Burn Up Our Pension, aired in November, 2020. It features youth climate leaders Hridesh Singh and Erin Zipman, climate activist Bill McKibben, newly elected state senator Jabari Brisport, capital district teacher Lauren Kirkwood and and Bard professor Kathy Hipple.

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* NYSTRS had $122.5 billion in assets at the end of 2019 with nearly 264,000 active members and over 169,000 retirees and beneficiaries. NYSTRS members are all full-time teachers, teaching assistants, guidance counselors and administrators employed in New York public schools (excluding New York City), BOCES, and eligible charter schools. Part-time teachers and teachers in New York State community colleges or SUNY may join. We estimate that NYSTRS's has about $4.5 billion last spring before the pandemic. 

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