Brand Story
New York Becomes The First State To Divest From Oil And Gas
Analyst Breakdown
- New York state announced plans on Wednesday to eject oil and gas stocks from its $226 billion financial portfolio, becoming the first U
- state and the biggest pension fund anywhere to divest from fossil fuels
- By 2025, the New York State Common Retirement Fund, which disburses some $1 billion in benefits to retirees each year, will sell off its “riskiest” oil and gas stocks, following a review set to begin next year, state Comptroller Thomas DiNapoli said Wednesday morning