New York City Mayor Bill de Blasio is poised to urge the city's five pension funds to divest from coal, which could move at least $33 million away from the fossil fuel industry, officials said Tuesday.
It will be interesting to see where the pension funds are re-invested .
Apparently the younglings will have a selection of more intelligent presidents in their future. de Blasio should run someday. He seems to be more of an independent thinker than our present crop of politicians. After Bernie retires ... I'd vote for de Blasio...lol
Divesting from agribusiness would have a greater effect then divesting from the coal business. Divesting from coal is a good move, if divesting has any effect at all, but it simply is not the most significant divestment that is available to New York City. The major environmental groups have done a great job of taking the spotlight off of the meat industry and placing it elsewhere. Accordingly, the industry that is responsible for more than half of all greenhouse gas emissions goes unchecked and other industries such as the coal industry receive all of the attention. Again, coal divestment is OK; it just is not the big one, the one that is being ignored like the 500 pound gorilla in the room. The big environmental groups downplay the importance of agribusiness by saying that everyone should eat less meat. That is mere lip-service; they do not report that the meat industry contributes over half of all greenhouse gases. The lip-service gives them cover, equating meat consumption reduction with changing lightbulbs, taking public transportation and other less effective measures, as if it were not the most important solution to the global warming catastrophe. Thus, the big environmental groups are a lot a lot like the alcohol companies that end their commercials with "drink responsibly." I can only conclude that either the big environmental groups are stupid or under the control of the meat industry. I seriously doubt that they are stupid. When a spokesman for the meat industry granted an interview for the Cowspiracy film, the spokesman refused to answer the question: Do you give money to the major environmental groups?
Perhaps the Mayor knows fossil fuel investments are just bad investments. Everybody else does
The city of Portland Oregon and Multnomah County Oregon have just decided to divest in the 200 largest carbon polluters. That may be a drop in the bucket compared to NYC but it's a start. Anybody want to raise or call???