Institutional Investor (March 1)
2018/ 03/ 04 by jd in Global News
New York City “is aiming for full divestment of coal, oil, and gas from its $189 billion retirement system–but could get sued in the process” if such a move is deemed contrary to fiduciary duty. If they successfully divest the roughly $5 billion in assets linked to fossil fuel, however, “New York’s pension funds would be the first major U.S. retirement system to rid itself of fossil fuels.”
Tags: Coal, Divestment, Fiduciary duty, Fossil fuel, Gas, New York, Oil, Pension fund, Retirement
