NYC Comptroller Lander Announces USA’s First Fossil Fuel Divestment Policy

Oct 22, 2024, 04:56 PM

New York City Comptroller Brad Lander has announced a groundbreaking initiative to end future investments by the city’s public pension funds in private equity funds that finance midstream and downstream fossil fuel infrastructure, including oil and gas pipelines and LNG terminals. This decision is part of a broader commitment to reduce greenhouse gas emissions and address climate concerns. Lander's plan marks the USA’s first divestment policy of its kind by a public pension fund. The initiative has been supported by various grassroots organizations, including NYChange, Climate Families NYC, and 350NYC.