DiNapoli: Stop funding climate destruction!

 

New York State Comptroller Thomas DiNapoli is up for reelection this year.  Now is the time to pressure him to take action on climate.  We need him to:

 

• Fully divest the Common Retirement Fund from Big Oil, and

• Provide a fossil free option for the 529 Plan

 

 

 

Divest the CRF from Big Oil! Back in 2020, DiNapoli promised to review the Common Retirement Fund (New York's state pension) and divest from any companies which don't have a plan to leave fossil fuels behind.  In 2024, after his review of the most important sector of the fossil fuel industry, Big Oil, DiNapoli concluded that polluters such as BP, Chevron, and Shell were taking meaningful action to reduce greenhouse gas emissions, and there was no need to divest. What?!

And there’s more!  DiNapoli determined that Exxon was not taking meaningful action to reduce emissions, but he only divested $27 million of the more than $500 million invested in Exxon.. Well, because, Exxon is too big.

Provide a Fossil Free 529 Option! Families open 529 college saving plans for their children’s or grandchildren’s future.  Yet DiNapoli's 529 offerings are being solely managed by Vanguard, the asset manager ranked #1 in fossil fuel investments! Putting money into a 529 account should be an investment in your young one's future, not an investment in the destruction of their future!

Families need a simple, set-it-and-forget-it fossil free option as a standard 529 offering in order to invest in a safer, healthier future for our children.  The Divest NY coalition and Climate Families NYC have been calling for DiNapoli to provide a fossil free option for years.  Unfortunately, we have been ignored.