NYC Looks at Shaming Fossil Fuel Financiers
New York City lawmakers will introduce a resolution Monday to demand that the financial institutions and insurers the city does business with divest from fossil fuels, HuffPost reports.
HuffPost obtained a draft of the resolution, and reports that while the draft resolution is largely symbolic in targeting JP Morgan Chase, BlackRock and Liberty Mutual, it will accelerate the movement to hold financial institutions accountable for climate change and preview how New York may institute radical changes in how the city handles its money.
"We are in the midst of a devastating short-term crisis … but the most devastating long-term risk to New York is the climate crisis," councilman Brad Lander, the lead author of the bill, told HuffPost. "If we're going to have any chance at actually bending the curve on CO2 emissions, we have to confront the capital that is driving it at its scale."
For a deeper dive:
- Empire State Building Shines Green After NYC's Decision to Take ... ›
- New York Takes Giant Step to Divest From Fossil Fuels - EcoWatch ›
- 'Tide Is Turning': Cheers Erupt for NYC's Suit Against Fossil Fuel ... ›
- Joe Biden Is Stuck Between BlackRock and a Hard Place - EcoWatch ›