Bill de Blasio calls on New York pension funds to divest from coal companies

The global movement to divest from coal is gaining momentum. This summer, Norway’s parliament endorsed the selling of coal investments from its $900 billion sovereign wealth fund, and earlier this month, California lawmakers passed a bill requiring the state’s two largest pension plans to divest any holdings of thermal coal within 18 months. And yesterday, New York’s Mayor Bill de Blasio called on the city’s five pension funds to end their investments in coal companies, demonstrating his commitment to taking on climate change. The pension funds have $33 million invested in coal. “New York City is a global leader when it comes to taking on climate change and reducing our environmental footprint,” De Blasio said.“It’s time that our investments catch up–and divestment from coal is where we must start.”

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Bill de Blasio calls on New York pension funds to divest from coal companies

The global movement to divest from coal is gaining momentum. This summer, Norway’s parliament endorsed the selling of coal investments from its $900 billion sovereign wealth fund, and earlier this month, California lawmakers passed a bill requiring the state’s two largest pension plans to divest any holdings of thermal coal within 18 months. And yesterday, New York’s Mayor Bill de Blasio called on the city’s five pension funds to end their investments in coal companies, demonstrating his commitment to taking on climate change. The pension funds have $33 million invested in coal. “New York City is a global leader when it comes to taking on climate change and reducing our environmental footprint,” De Blasio said.“It’s time that our investments catch up–and divestment from coal is where we must start.”

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