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Mayor de Blasio Announces Goal to Divest New York City from Fossil Fuels

WASHINGTON - Today, New York City Mayor Bill de Blasio announced a plan to divest the city’s $189 billion pension fund from fossil fuels within the next five years, making New York City the first major US pension plan to do so. Momentum behind the push to defund the fossil fuel industry is growing in New York; last month, Governor Andrew Cuomo called on the state’s retirement fund to divest from fossil fuels.   

Mayor de Blasio also ​announced that the city has filed a lawsuit against the five largest investor-owned fossil fuel companies over their contributions to climate change.

 In response, Sierra Club Executive Director Michael Brune released the following statement:
 
“This is what climate leadership looks like. To confront the climate crisis, we must hold corporate polluters accountable in the streets, in the boardrooms, and in the courts. In the absence of leadership from the White House, it’s encouraging to see city and state leaders like Mayor de Blasio stepping up and taking meaningful action to defund the fossil fuel industry and fight climate change.”
 
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The Sierra Club is the oldest and largest grassroots environmental organization in the United States. It was founded on May 28, 1892 in San Francisco, California by the well-known conservationist and preservationist John Muir, who became its first president. The Sierra Club has hundreds of thousands of members in chapters located throughout the US, and is affiliated with Sierra Club Canada.

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