February 22, 2024

NYS Comptroller DiNapoli Balks At Divesting From Fossil Fuels

On Valentine’s Day, NYS Comptroller Tom DiNapoli announced that he largely decided against divesting from the billions of dollars the state’s pension fund has in Exxon and other oil and gas companies. DiNapoli, contrary to the evidence, decided that most of the fossil fuel companies are committed to transitioning to a clean energy future. He defended his more than half a billion dollars invested in Exxon on the grounds that it was a passive investment through index funds. Ruth Foster of DivestNY talks with Mark Dunlea of Hudson Mohawk Magazine about why the climate coalition feels that DiNapoli has made a bad decision.

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