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First NYC Pension Fund to Cease Fossil Fuel Investments by End of 2025?
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Official announcements from NYC public pension funds or NYC Comptroller's office
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NYC's Staten Island Ferry and NYC Ferry to Transition to 100% Renewable Diesel by 2025, Reducing Emissions by 60%
Oct 22, 2024, 05:06 PM
New York City is making strides towards cleaner waterways with the Staten Island Ferry and NYC Ferry testing 100% petroleum-free renewable diesel fuel. This initiative aims to transition the ferry fleet to renewable diesel, which is designed to reduce greenhouse gas emissions by 60% or more. By the end of 2025, the Staten Island Ferry's fleet is expected to operate entirely on this cleaner fuel, marking a significant step in the city's efforts to enhance environmental sustainability. Additionally, NYC Comptroller Brad Lander has proposed a policy to cease future investments by the city's public pension funds in midstream and downstream fossil fuel infrastructure, positioning this move as the first of its kind by a public pension fund in the United States.
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