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How New York City Won Divestment From Fossil Fuels


How New York City Won Divestment From Fossil Fuels

Nancy Romer

After five years of tireless organizing, the movement to divest NYC public worker pension funds from fossil fuels scored a win. On Jan. 10, Mayor Bill de Blasio announced that New York City will divest the $5 billion of its pension funds presently invested in fossil fuel stocks. It will also sue the top five fossil fuel corporations—ExxonMobil, Shell, BP, Chevron, and ConocoPhillips—charging that because they hid the evidence that burning fossil fuels causes climate change, they are responsible for the billions of dollars the city has spent on climate remediation.


My question is what is New York City planning to do for energy, considering the fact that they have made plans to eliminate Indian Point Nuclear Center by 2021, which is responsible for 2,000 MW of capacity and 16,500 GWh of generation. Yall have 3 years, and so far the only significant plans that have been made is an international deal with Canadian hydroelectricity, which could theoretically get you 45% of energy, and contracts with Competitive Power Ventures for another 30% of capacity.

The only problem is CPV is a NATURAL GAS COMPANY, so wtf is this talk about how New York is through with fossil fuels. Your state is literally investing in MORE natural gas to replace nuclear!