The goal of the Divest/Invest movement is to end carbon emissions by terminating investments in the fossil fuel (oil, coal, gas) industries and supporting investments in renewable energy. Government pension funds control large investments and are uniquely amenable to public pressure. In 2012, we at 350 NYC initiated the divestment campaign for New York City and State pension funds. We are now part of Divest New York, a statewide coalition which in turn is connected with STAND.earth, a global divestment organization.
Thanks to a surprisingly small number of committed activists, we were able to secure divestment commitments from New York City in 2018, and from the state’s Common Retirement Fund in 2020. This was heard around the world, and we believe contributed to the recent cascade of divestment announcements from universities and charities. Thirty-nine trillion dollars are now committed to divestment by fourteen thousand institutions globally.
You do not need to be a finance expert to become part of this movement. Email johngingram@gmail.com if you are interested in joining this effort.
As part of the Divest NY coalition, 350NYC is currently working to divest the New York State Teachers pension fund from fossil fuels.
More Information
- Five Years of Activism: NYC Commits to Fossil Fuel Divestment
- Divestment Resources
- Fossil Free NYC Facebook and Fossil Free NY State Facebook
- Divest Invest Worldwide
- OP-ED By IEEFA Op-Ed
- All about Divestment on 350.org
