New York State Fossil Fuel Divestment Act

Broad Coalition of Environmental, Faith, And Community Organizations Urge Action To Fight Climate Change

New York State CapitolNew York State Senator Liz Krueger and Assembly Assistant Speaker Felix W. Ortiz today announced the Fossil Fuel Divestment Act, which would require the State Comptroller to divest the Common Retirement Fund (CRF) from fossil fuel holdings by 2020. They were joined in this announcement by Bill McKibben, Peter Yarrow and other advocates. The bill also received the endorsement of several environmental, faith, and community organizations, including 350.org, Natural Resources Defense Council (NRDC), Sierra Club Atlantic Chapter, Citizens Campaign for the Environment, Citizen Action, New York State Council of Churches, and Clearwater, among others.  A number of supporters recorded short video messages explaining why they believe divestment is vital. All the videos can be viewed here.
 
“I’m proud to be the sponsor of a bill that would require the New York State pension fund to divest from fossil fuels by 2020,” said Senator Krueger.  “It is critical that we send the message that we are no longer going to invest our public funds in activities that do enormous damage to our environment, not just in New York, not just in the United States, but throughout the world. It’s 2015 – we’re already decades behind where we need to be in addressing climate change.  Divestment is not a silver bullet, but it is one important step among many, and I urge all of my colleagues to support us in passing this bill and demonstrating that New York State can be at the cutting edge of the fight to stop catastrophic climate change.”

Read more at Senator Krueger's website

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