In early January, New York City mayor Bill de Blasio announced that the city would divest its fossil fuel holdings. At the same time, New York State governor Andrew Cuomo has urged the state’s retirement fund to do the same and cease fossil investments. Together, the two funds manage just under 400 billion dollars.
Likewise, Norway’s massive sovereign wealth fund is preparing to sell off its oil and gas holdings, valued at 35 billion dollars. In the UK, Huddersfield recently became the 60th British university to divest, while the public service union Unison has initiated a campaign to encourage local government pension funds to follow suit. Meanwhile, companies like AXA and ING strengthened their commitments to eliminate their exposure to coal and other climate killers such as tar sands.
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