New York, like much of the world, is currently reeling from the crippling effects of COVID-19. Unfortunately, at a time when the focus of state leaders is on the health and well-being of its people, select activists are still trying to make noise around fossil fuel divestment – an issue far down any priority list …
The Institute for Pension Fund Integrity (IPFI) released a white paper this week, repudiating the divestment movement and reiterating the organization’s hardline stance against investment strategies fueled by political trends. IPFI’s decision to release the paper follows the New York City comptroller’s Request for Proposals in support of the city’s intended divestment strategy for three …
The New York State pension will again be in divestment activists’ cross-hairs in 2019 as groups like 350.org plan a series of grassroots efforts to push Comptroller DiNapoli to sell the fund’s stocks in energy companies. Despite the fact that such a gesture is of only symbolic value (read: sell just means other investors will …
An OpEd featured in Crain’s New York this month lays out the high costs of divestment for New Yorkers, and fact checks the lack of progress seen in the city to date. Here is what IPAA’s senior vice president of operations and public affairs had to say: “Last month divestment proponents claimed the movement is …
Divestment could mean millions in annual shortfalls and billions in missed returns for both New York and Colorado’s state pension funds REPORT | NY FACT SHEET I CO FACT SHEET A new study by Prof. Daniel Fischel of the University of Chicago Law School and co-authors Christopher Fiore and Todd Kendall of economic consulting firm …
The Associated Press reports that New York City is reengaging the topic of divestment, with the Mayor making a call for the effort and Comptroller Stringer pushing the funds to pursue the costly, ineffective investment strategy over the next four years. Notably, the media reports the Mayor will be standing side by side with controversial …
“The notion that we’re going to lead the fight on climate change by making the pension fund sell all their energy stocks to me seems like not the smartest strategy. We prefer to be an investor and we engage with companies. We would lose that leverage if we’re not at the table anymore as an …
UPDATE (1/3/18, 3:00 p.m. EST): Today’s State of the State Address made only one brief comment on divestment, when Gov. Cuomo stated: “We call to an end to any investment in fossil fuel related activities in the pension fund. The future of the environment, the future of the economy and future of our children is …
A new study just released by the Suffolk County Association of Municipal Employees (AME) raises serious concerns about proposals by New York political leaders to divest the state pension from fossil fuels. If the pension were to do so, the report finds that it would lose $2.8 billion over 20 years. The report’s analysis found …
Just hours after announcements from Governor Cuomo pushing — and New York State Comptroller DiNapoli again not committing to – divestment, the New York City Comptroller’s Office released an announcement previewing future divestment action by the funds. The New York City Comptroller’s office is led by Scott Stringer on behalf of the city’s five public …
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