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For Immediate Release
January, 24 2021, 11:00pm EDT
Contact:
Global Communications Director: global-comms@350.org
NYC Pension Funds Begin Historic Fossil Fuel Divestment
New Yorkers applaud as the NYC pension funds, led by Comptroller Stringer and Mayor de Blasio, begin to dump $4 billion invested in Exxon and other Oil & Gas corporations in a historic win for climate action.
WASHINGTON
Today, New York City's largest pension funds voted to initiate full fossil fuel divestment, selling off an estimated $4 billion of holdings in fossil fuel corporations, such as ExxonMobil. New York City's announcement fulfills its commitment to divest from fossil fuels. The city's pension funds, valued at $239 billion are the largest municipal pension funds to divest globally.
"New York City has set a new bar for climate finance action. Today's landmark action marks a bad day for Big Oil and a good day for the City's pension systems and our planet. By taking billions out of the companies that own and profit off of fossil fuels, New York City is playing an enormous role in moving the financial industry towards a greener future," said Bill McKibben, author and co-founder of 350.org.
New York City's divestment commitment, made in 2018, inspired further action worldwide. It was followed by commitments from many other large funds, including the City of London, the Norwegian Sovereign Fund, and the New York State Common Retirement Fund. Today's announcement confirms the City's commitment to divest from fossil fuels within five years.
"My family lost everything to hurricane Sandy, a climate disaster. I am so happy now to see the pension funds dump billions of dollars of investments in the likes of Exxon. We worked hard to get to this moment. Our movement is rising!" said Rachel Rivera, a Sandy survivor and member of New York Communities for Change.
"Thanks to the Comptroller, Mayor, Trustees and eight years of grassroots activism, we are finally turning the tide against the inertia of business as usual and the funding of our own demise, giving concrete hope for a more sustainable future. May this move inspire other leaders to urgently follow suit," said Lyna Hinkel, Founder, 350NYC.
Fossil fuel corporations are seen as an increasingly bad risk for portfolio managers and have underperformed financial markets for years.
"New York is a beacon of real climate leadership, as our City's pension funds divest over $4 billion from climate criminals like ExxonMobil," said Lindsay Meiman, 350.org Communications Manager and lifelong New Yorker. "We are re-engineering resilience, and if New York can do it, every single pension, university, bank, and insurer can cut ties with fossil fuels too."
The pension fund trustees vote follows previous action to hire consultants to advise the city on divestment (2018 - 2020), prepare a divestment study (2020), and ongoing fiduciary review.
"It is right and just that, in the midst of the deadly pandemic, our beloved NYC is choosing life over death and acting on its commitment to divest the pension funds from fossil fuel investments," said Marilyn Vasta, for Peoples Climate Movement NY. "For too long we have financially supported the polluters that harm us; it is time to make polluters pay as we invest in a just transition to renewable energy. Although it has taken almost a decade, from small living room meetings to a city-wide cry for divestment, the Peoples Climate Movement-NY proudly stands today with Comptroller Stringer and Mayor de Blasio, and applaud them for taking this positive step towards a fossil free future."
Divestment has exploded over the past decade from a symbolic action by small college endowments into a worldwide movement that has led to over $14 trillion worth of investment funds divesting or committing to divest from the oil, gas or coal industries.
In order to fulfill the Paris climate agreement's goals of staving off catastrophic climate change, all major finance of fossil fuels and deforestation must end by 2030.
"Humanity is engaged in an epic battle to save the planet for future generations.The enemy is fossil fuels, and every step that works toward shutting them down is critical. Kudos to NYC for doing its part," said Jordan Dale with the #DivestNY coalition and 350NJ-Rockland.
Members of the #DivestNY coalition, Comptroller Stringer, and pension fund trustees will view and join tomorrow's daily briefing held by Mayor de Blasio to detail the announcement and celebrate. The briefing can be viewed live at www.nyc.gov. It is scheduled for 10 am EST.
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.
LATEST NEWS
Platner Refuses to Accept 'Pinky Promise' on ICE From White House as Collins Claims Maine Surge Is Over
"When we do get ICE out of Maine, it's important for people to understand that that came from below, that came from power from organizers, from a mobilized population," said Senate candidate Graham Platner.
Jan 29, 2026
At a rally outside Sen. Susan Collins' office on Thursday morning, soon after the Republican lawmaker claimed she had gotten assurances from the Trump administration that it would end its immigration enforcement surge in Maine, Democratic Senate candidate Graham Platner said he was not prepared to accept a "pinky promise" from the White House after the arrests of hundreds of Mainers in recent days.
"I don’t believe it,” Platner told a crowd of protesters. “I don’t take the word of an administration that continues to break the law. I don’t take the word of an administration that continues to stomp our constitutional rights. We need to see material change.”
Collins said in a statement Thursday morning that she had spoken with Homeland Security Secretary Kristi Noem and received information that US Immigration and Customs Enforcement (ICE) "has ended its enhanced activities in the state of Maine"—adding the caveat that the Department of Homeland Security (DHS) "does not confirm law enforcement operations."
"There are currently no ongoing or planned large-scale ICE operations here," said the senator. "ICE and Customs and Border Patrol will continue their normal operations that have been ongoing here for many years."
About 200 people have been detained in what ICE has called "Operation Catch of the Day" since it was launched earlier this month, and immigrant rights and mutual aid groups in Portland, Lewiston, and other cities have ramped up efforts to support the state's growing population of immigrants and asylum-seekers, including its Somali community, which includes many people who have become citizens since arriving in the US.
The administration said it had a list of more than 1,400 people in Maine it aimed to arrest—people it claimed were among the so-called "worst of the worst" violent criminals the White House wants to deport.
People abducted from their cars and homes in the state, however, include a corrections officer who was eligible to work in the US, a civil engineer on a work visa, a mother who was followed home by ICE agents and had a pending asylum application, and a father who was driving his wife and 1-month-old baby home from an appointment and whose car window was shattered by an agent, sending glass flying into the infant's car seat. None of those people had criminal records, according to background checks and attorneys.
Rep. Chellie Pingree (D-Maine) said that while the "visible federal presence" in Maine may be reduced following Collins' announcement, "it is important that people understand what we saw during this operation: Individuals who are legally allowed to be in the United States, whether by lawful presence or an authorized period of stay, following the rules, and being detained anyway.”
“That is not limited to this one operation," said Pingree. "That has been the pattern of this administration’s immigration enforcement over the past year, and there is no indication that policy has changed.”
Platner told local ABC News affiliate WMTW that Collins affirmed in her statement that "she still supports ICE operations, just not this expanded one. An agency that over the past week has abducted people that work for the sheriff's department, has abducted fathers bringing their newborn child home from the hospital, an agency that has murdered American citizens in the streets of Minneapolis."
"That is not an agency that has any welcome in Maine to conduct any operations," said Platner, who has spoken out in support of abolishing ICE, which was established in 2003.
Sen. Susan Collins said ICE has ended its enhanced operation in Maine. But Graham Platner, who is running for Collins' Senate seat, told @catemccusker that he will believe it when he sees it. https://t.co/7GL6qM3Bf6 pic.twitter.com/iE6O44Ok5t
— WMTW TV (@WMTWTV) January 29, 2026
Platner also emphasized in comments to the Maine Newsroom that Collins, who as the Senate Appropriations Committee chair has been working to pass spending bills to avert a government shutdown and has been fighting against a push to strip DHS funding out of the package, should not get credit for pushing ICE out of Maine, if the agency is actually retreating.
"When we do get ICE out of Maine, it's important for people to understand that that came from below, that came from power from organizers, from a mobilized population," said Platner. "It is that power that is going to push ICE out of Maine, and those in power, who have done nothing, are not the ones who get to take credit. The people of Maine get to take credit."
The government spending bills passed last week in the House with seven Democrats—including Rep. Jared Golden of Maine—supporting the DHS funding. The Senate needs to pass the package by the end of Friday to avoid a shutdown.
Portland City Council member April Fournier said the timing of Collins' announcement seemed "very convenient" for the senator, who is running for a sixth term.
"I take this with a grain of salt," said Fournier. "There's a very important budget vote today that Susan Collins will be a part of and there's a lot of pressure on her given all of these immigration operations, what's happened in Maine, what's happened in Minneapolis, and all over. She has a lot of pressure to decrease funding for ICE, and she has really put her line in the sand that she's not willing to do that."
Fournier added that Collins is "vulnerable" as the midterms approach, "so if she's able to somehow say, 'We got ICE out of Maine,' and then try and paint herself as the hero, I think that her political analysis of the situation is that will win her back some favor."
The council member noted that just over seven years ago, the senator assured voters that US Supreme Court Justice Brett Kavanaugh would not vote to overturn Roe v. Wade as she announced her vote to confirm him.
"I trust Susan Collins and her actions about as much as I trust thin ice in spring here in Maine," said Fournier.
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‘Frightening’: Tom Homan Uses War Jargon to Describe ICE Operations in Minnesota
"'In theater' is an expression that has no place anywhere within the United States," said one critic.
Jan 29, 2026
White House border czar Tom Homan on Thursday sparked alarm when he used terminology associated with overseas war to describe federal immigration operations taking place in Minnesota.
During a press briefing, Homan was asked about the number of US Immigration and Customs Enforcement (ICE) and Customs and Border Protection (CBP) agents operating in Minnesota.
"3,000," Homan replied. "There's been some rotations. Another thing I witnessed when I came here, I'll share this with you, I've met a lot of people, they've been in theater, some of them have been in theater for eight months. So there's going to be rotations of personnel."
Q: Can you be specific about how many ICE and Border Patrol agents are currently operating in the state?
HOMAN: 3,000. There's been some rotations. They've been in theater a long time. Day after day, can't eat in restaurants, people spin on you, blowing whistles at you. But my… pic.twitter.com/1Vz8mKYCAv
— Aaron Rupar (@atrupar) January 29, 2026
Typically terms such as "rotations" and "theater" are not used to describe domestic law enforcement operations, but overseas military deployments.
Many critics were quick to notice Homan's use of war jargon to describe actions being taken in a US city and said it was reflective of how the Trump administration sees itself as an occupying force in its own country.
"'In theater' like they're landing marines at Guadalcanal or something," wrote Aaron Fritschner, deputy chief of staff for Rep. Don Beyer (D-Va.), in a post on X. "This stuff is happening in suburban American communities, that's where they're sending violent, masked invaders."
Northwestern University historian Kathleen Belew also expressed shock at Homan's rhetoric.
"'In theater' is an expression that has no place anywhere within the United States," she wrote on Bluesky. "'In theater' means in a war."
Andrew Lawrence, deputy director of rapid response as Media Matters, said Homan's war talk was "a crazy way to describe Minneapolis," while documentary filmmaker John Darwin Kurc described it as a "frightening characterization."
Shelby Edwards, a retired US Army major, also recognized the violent implications of Homan's words.
"Incredibly damaging how military language has infiltrated these agencies," she observed. "'In theater' is used for deployments into foreign nations, when we deploy soldiers we say things like this. This is America. This is an American agency assigned to an American city."
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As Democrats Push for ICE ‘Reforms,’ a Judge Shows How Flagrantly the Agency Already Violates Law
"ICE has likely violated more court orders in January 2026 than some federal agencies have violated in their entire existence."
Jan 29, 2026
Amid the latest budget standoff in Congress, Senate Democrats on Wednesday said they may be willing to make a deal to fund the US Department of Homeland Security in exchange for a slate of "reforms" designed to rein in what Senate Minority Leader Chuck Schumer described as Immigration and Customs Enforcement's "state-sanctioned thuggery."
But just because something is written in law doesn't mean ICE agents will follow it.
That's what Chief Judge Patrick J. Schiltz of the US District Court in Minnesota—a conservative jurist appointed by former President George W. Bush—demonstrated when, as part of an order issued Wednesday, he published a list of nearly 100 court orders ICE has violated in just the month of January.
Schiltz issued the list as part of an order canceling a hearing for acting ICE Director Todd Lyons, whom he’d previously ordered to appear in court on Friday or face contempt. The judge demanded Lyon's personal appearance after ICE ignored the judge’s order to give a bail hearing to a detainee, Juan Hugo Tobay Robles, one of “dozens of court orders with which respondents have failed to comply in recent weeks.” Schiltz canceled Lyons’ hearing when Robles was released from custody.
"That does not end the Court’s concerns, however," Schiltz wrote on Wednesday. "Attached to this order is an appendix that identifies 96 court orders that ICE has violated in 74 cases."
"This list should give pause to anyone—no matter his or her political beliefs—who cares about the rule of law," he went on. "ICE has likely violated more court orders in January 2026 than some federal agencies have violated in their entire existence."
"ICE," he said, "is not law unto itself."
This scathing document of ICE's willful disregard for the law was top of mind for many critics of the compromise Democrats appear poised to make in exchange for passing a budget package that includes $64.4 billion in DHS funding, including $10 billion for ICE and $18 billion for Customs and Border Protection (CBP).
On Thursday, seven Republicans joined Democrats in a 45-55 vote to block the spending package, which needs 60 votes to pass in the Senate. Democrats have said they want to separate DHS funding from the rest of the bill in order to negotiate a series of "reforms." If a deal is not reached by January 30, funding for DHS and several other agencies will lapse, causing another partial government shutdown.
On Wednesday, Schumer told the press that Democrats are "united" behind three key reforms to DHS. Per TIME Magazine:
“We want to end roving patrols,” Schumer said, laying out Democrats’ first demand. “We need to tighten the rules governing the use of warrants and require ICE coordination with state and local law enforcement.”
Second, he said, Democrats want to “enforce accountability,” including a uniform federal code of conduct and independent investigations into alleged abuses. Federal agents, he argued, should be held to the same use-of-force standards as local police and face consequences when they violate them.
Third, Schumer said, Democrats are demanding “masks off, body cameras on,” a reference to proposals that would bar agents from wearing face coverings, require they wear body cameras and mandate that agents carry visible identification. “No more anonymous agents, no more secret operatives,” he said.
Journalist and political analyst Adam Johnson described these proposals as "superficial," with many already being codified into law or even the US Constitution.
"As many scholars have noted, Trump arresting people without warrants is already unconstitutional and illegal, but his DHS is doing it anyway," he wrote. "Passing laws to enforce existing law may dissuade the Trump regime in some contexts, but it’s unclear why Trump wouldn’t just ignore the new law since they duly ignored the previous one."
He also said, "It’s unclear how much power Congress or states would have to 'enforce accountability' while Trump’s cartoonishly corrupt DOJ continues to investigate and threaten state lawmakers and leaders with prison time."
Johnson noted that the list of demands made by progressives, including Sen. Bernie Sanders (I-Vt.), was more comprehensive, including bans on arrest quotas and forcing ICE to end its reign of terror in Minneapolis, but said "it’s unclear how Congress would define, much less enforce, these parameters. And most conspicuous of all, their demands make zero mention of reducing DHS’s obscene budget."
DHS funds were already increased by $170 billion over the next five years in the One Big Beautiful Bill Act passed by Congress last year, and ICE funding tripled, from $10 billion per year to $30 billion, making it the equivalent of the 13th most expensive military in the world.
Aaron Regunberg, a writer at the New Republic, questioned what good it was to subject ICE to new laws when, as Schiltz's order showed, "ICE breaks the law, courts order them to stop, and then they keep breaking the law."
"You have to be dumb as bricks to think the answer is to pass a law saying it's against the law to break the law," he continued. "The answer is to stop giving these fascist goons billions of our tax dollars."
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