New York State’s $226 Billion Pension Fund Moves to Divest from Riskiest Oil and Gas Companies

December 9, 2020 New York State’s $226 Billion Pension Fund Moves to Divest from Riskiest Oil and Gas Companies
Big news today! New York State just became the largest pension fund in the world to take comprehensive climate action, including fossil fuel divestment. The $226 billion state pension fund will review and divest from the riskiest oil and gas companies within 4 years and decarbonize the entire fund by 2040. This came after years of campaigning by the DivestNY coalition.In the 8 year history of the divestment movement, this is the biggest announcement by a pension fund and amongst the largest by any financial institution. It goes beyond the Fossil Fuel Divestment Act, legislation that DivestNY advocates had been pushing for years. Read more about the announcement in the DivestNY Coalition background document.