Climate Activists Are Closer Than Ever To Ending All Fossil Fuel Investments
When New York State Comptroller Thomas DiNapoli announced last month that the state would divest its over $200 billion Common Retirement Fund from more than 20 coal companies, it marked an important milestone for a grassroots campaign that has seen a recent burst of new momentum. In an op-ed published on July 12, DiNapoli stated, “After a thorough assessment, the fund has divested from 22 thermal coal mining companies that are not prepared to thrive, or even survive, in the low-carbon economy.”
This victory is thanks to a near decade-long effort by activists who have been pressuring New York to divest from the companies most responsible for causing the climate crisis. A surge in youth-led activism has brought new energy to this campaign, putting pressure on both the comptroller’s office and state legislators. While New York still has not ended its investments in oil and gas companies, DiNapoli’s decision to divest from coal shows climate activists are having a real impact on one of the largest state pension funds in the United States.