Trustees for New York City’s two largest pension funds have approved a plan to divest from some upstream natural gas, oil and coal companies by 2025. Led by Comptroller Brad Lander, trustees are ready to implement plans to achieve net-zero emissions by 2040 in the New York City Employees’ Retirement System (NYCERS) and the Teachers’…
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New York City to Ban Natural Gas Hookups in New Buildings Beginning in Two Years
New York City has enacted a ban on natural gas hookups in new buildings starting at the end of 2027. For buildings up to six stories tall, the ban would take effect at the end of 2023. The New York City council voted in favor of the bill on Wednesday. It now goes to Mayor…
December 15, 2021
NYPA Teaming Up with Environmentalists to Transition Big Apple’s Natural Gas-Fired Peakers to Clean Energy
The New York Power Authority (NYPA) said it would join forces with a coalition of alternative energy interests to assess how to transition natural gas-fired “peaker” plants in the nation’s largest city to low-carbon battery storage. The partnership between the public utility and the five groups that make up the Peak Coalition, which is pushing…
October 20, 2020
New York City Looks to Excise Oil Heavyweights From Pension Plans
New York City wants to shut the door on investor-owned fossil fuel funds within five years and is seeking damages from BP plc, Chevron Corp., ConocoPhillips, ExxonMobil Corp. and Royal Dutch Shell plc to protect the city from what it claims are the effects of climate change.
January 11, 2018
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