Skip to main content

Sign up for our newsletter.

Quality journalism. Progressive values. Direct to your inbox.

For Immediate Release


Press Release On NYC Pension Climate Risk Study: “No More Excuses Not To Divest”

New York, NY -

Today, as world governments gather in Bonn for the COP23 climate talks, New York City’s Pensions Investment Committee received their second commissioned climate study from Mercer consulting. Following last month’s carbon footprinting report by S&P’s Trucost, this report, originally scheduled for release in September, analyzed climate risk of the City’s $186 billion pension funds. A second component of the study is expected in February.

“This report leaves no more excuses not to divest,” said Betámia Coronel with, coordinator of the #DivestNY coalition. “As Comptroller Stringer issues study after study, the costs of climate change are paid for in the lives and livelihoods of New Yorkers. This latest from Mercer offers a voluntary step to be transparent about climate risk. Stringer needs to stop delaying and divest to be a real climate leader.”

Last month, on the fifth anniversary of Superstorm Sandy, over 5000 New Yorkers rose up to demand elected officials take bold and immediate climate action, highlighting the more than $3 billion of public pension money invested in fossil fuel companies as immoral and financially risky. Since its launch in 2012, fossil fuel divestment has become a financially and morally responsible mainstream investment tactic.

On Wednesday, November 29, New York City Public Advocate Tish James will convene a public hearing on action necessary for New York to be a true climate leader, including fossil fuel divestment. New Yorkers will gather for a rally at 8:30am at Fiterman Hall, Borough of Manhattan Community College to demand divestment from companies knowingly causing climate change and reinvestment in real solutions that put New Yorkers first.

WATCH: Presentation & Meeting Recording Here


350 is building a future that's just, prosperous, equitable and safe from the effects of the climate crisis. We're an international movement of ordinary people working to end the age of fossil fuels and build a world of community-led renewable energy for all.

Senate Dems Propose Talking Filibuster for Voting Rights

"If Senate Democrats can find the political courage this moment requires, they have the tools right now to pass voting rights legislation and save our democracy."

Jessica Corbett ·

94% of AZ Progressives Support Primary Challenge if Sinema Kills Voting Rights

"Sinema can betray Arizonans, but there aren't enough pharma lobbyists in the world to keep her in office if she does."

Brett Wilkins ·

Dems Urged to Hold Senate Floor for 'As Long As It Takes'

"Call your senators now and tell them to hold the floor, keep the debate going, and fix or ditch the filibuster to pass democracy reform," says Indivisible.

Jessica Corbett ·

Exxon Net-Zero Plan Called Greenwashing From 'Climate Liar'

"Exxon and Big Oil's whole strategy is to pretend that fossil fuels can be part of the solution so that they can delay the adoption of renewables another year and keep profiting from oil and gas."

Julia Conley ·

Rising US Renewables Expected to Spur Decline in Fracked Gas

"Renewable energy is starting to do to natural gas what natural gas did to coal."

Kenny Stancil ·

Support our work.

We are independent, non-profit, advertising-free and 100% reader supported.

Subscribe to our newsletter.

Quality journalism. Progressive values.
Direct to your inbox.

Subscribe to our Newsletter.

Common Dreams, Inc. Founded 1997. Registered 501(c3) Non-Profit | Privacy Policy
Common Dreams Logo