Fossil Fuel Divestment: NY City Mayor acts to Protect Portfolios and Planet for Future Generations

 “Fossil fuel companies have misled the public for too long, and we must take action now..."  -- Mayor de Blasio

Mayor de Blasio, Comptroller Stringer, and Pension Fund Trustees Announce Significant Next Step to Divest Pension Funds From Fossil Fuel Reserve Companies

December 18, 2018

Issue landmark Request for Proposal to analyze fossil fuel risks and develop divestment plan

NEW YORK—Mayor Bill de Blasio and Comptroller Scott M. Stringer today announced the next big step in the New York City Pension Funds’ action to address the risk posed by climate change by divesting from fossil fuel reserve owners – an unprecedented process and the first-of-its-kind in the United States.

The Request for Proposal (RFP) released today seeks advisers to analyze, evaluate, and recommend prudent fossil fuel divestment strategies for the New York City Employees’ Retirement System (NYCERS), the Teachers Retirement System (TRS), and the Board of Education Retirement System (BERS), together representing 70 percent of the total assets of the City’s $200 billion pension funds. The RFP will result in a comprehensive analysis of the City Pension Funds’ holdings and the risks the fossil fuel industry poses to pension assets.

This analysis – the first-of-its-kind of a pension fund of this size – will inform the development of a comprehensive and prudent divestment strategy to preserve the retirement funds of City employees and address climate change risks, consistent with fiduciary duty.

“Divestment is a critical part of our strategy to fight climate change while insulating our pension funds,” said Mayor de Blasio. “Fossil fuel companies have misled the public for too long, and we must take action now to protect our portfolios as well as our planet for future generations. I thank the Comptroller and the rest of my fellow Trustees for standing strong as we continue taking these steps to divest from fossil fuels.”

“The future of New York City can’t be tied to fossil fuels – and today, we’re taking the next big step to protect our planet and the retirement security of hundreds of thousands of New Yorkers,” said New York City Comptroller Scott M. Stringer. “Climate change poses an existential threat. But by moving towards a fossil fuel free investment strategy, New York City is planting the seed for a clean, green, and thriving economy that can truly support future generations. The steps we take in New York City set a precedent around the country and the world, and the leadership from the Mayor and the trustees are charting a roadmap for responsible climate action.”

Read more at the Official Website for the City of New York

Cuomo supports a Green New Deal for Carbon-Free Electricity by 2040

Cuomo sets Goal for Carbon Neutral Electric System by 2040

By MARIE J. FRENCH

12/17/2018 | 04:44 PM EST

ALBANY — Gov. Andrew Cuomo on Monday set a new goal to reduce emissions from the state's electricity generation and promised to support a Green New Deal to get to a completely carbon-free economy.

Details were sparse on what Cuomo's conception of a Green New Deal would entail or when he'd mandate that the state eliminate carbon emissions across the economy. His current goal for the electric sector is 50 percent renewables by 2030, and for emissions in most sectors of the economy to be cut 80 percent from 1990 levels by 2050.

“New York will launch the Green New Deal to make New York’s electricity 100 percent carbon neutral by 2040, and ultimately eliminate the state’s entire carbon footprint," Cuomo said during a speech in New York City, where laid out his agenda for 2019.

Environmental advocates expressed optimism at Cuomo's new goals.

“The new goal is incredibly exciting and motivating,” said Kit Kennedy of the Natural Resources Defense Council. "What happens now is going to be crucial. In other words, is this a goal … and that’s it, or can we get done what we need to get done in New York state on the ground in terms of policy deployment, acceleration of energy efficiency, electric vehicles, Article 10 [the state siting law for large-scale generators] reforms, offshore wind, storage, the whole gamut of zero-carbon technologies."

For advocates who have consistently pushed for more aggressive action, the lack of details or a goal to get to zero percent emissions in the short-run were disappointing.

“A vague pledge of carbon neutrality by the year 2040 is not the bold action necessary to move New York off fossil fuels," said Food and Water Watch's Alex Beauchamp. "Cuomo must go much bigger: A true Green New Deal for New York must include a moratorium on all new fossil fuel infrastructure and a commitment to transition New York to 100 percent renewable energy by 2030."

The Cuomo administration did not respond to questions about what a Green New Deal would include, whether legislative action would be required or whether electric generators would be able to purchase carbon offsets to comply with the 2040 goal.

The Democratic governor has already directed the New York State Energy Research and Development Authority to study how the state could get to 100 percent renewables, not just in the electric sector but across the economy. He's said he supports that goal. The study was expected to be completed by the end of this year.

Climate Bill addresses Justice for Communities and Workers

Climate protection bill would hit renewable goal

In a recent Another Voice column (“Energy policies can be pro-business, pro-environment”), the authors gets things half right.

The Climate and Community Protection Act (CCPA), the focus of their article, is also pro-community and pro-working families! If enacted, the CCPA would commit New York State to a just transition to 100 percent renewable energy by 2050.

This transition would impact the entire economy, from energy generation to transportation to how we heat and cool our buildings. It would require that state agencies apply climate and equity filters to all decision making. This would ensure that no New Yorkers get left behind during the transition and that state government is accountable to climate goals.

The CCPA was perhaps the first climate bill in the country to take justice for communities and workers seriously. It acknowledges the disparate impacts of climate change on vulnerable communities and would support implementation of community-based climate solutions. The bill would redirect 40 percent of existing state climate and clean energy funding to vulnerable communities to enhance climate resiliency and reduce energy poverty by opening up access to renewables and energy efficiency.

The CCPA would also set job standards for industries called into action by public sector investments so that workers and their families can thrive as our economy transitions.

Global consensus has been reached that we’re now living through an intensifying climate crisis. The CCPA is a commonsense response to this crisis and represents a transformative strategy for achieving a just transition for all New Yorkers.

Clarke Gocker

Buffalo

Published on 12.18.2018 at BuffaloNews.com

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To read the text of the Climate and Community Protection Act and see the bill's co-sponsorship in the NYS Senate, click here

Public Comments: Climate Action Sustainability Plan for Internal County Operations

Erie County is pleased to release the draft Climate Action and Sustainability Plan (CASP) for internal county operations.

Click here to download the Plan for review.


Comments can be entered here.

The CASP was a collaborative effort involving all County departments through the County’s Green Team initiative and outlines a plan to move County government operations toward a sustainable future.

Development of the CASP was funded through New York State Energy Research and Development Authority (“NYSERDA”). NYSERDA has not yet reviewed the information contained herein, and the opinions expressed in this report do not necessarily reflect those of NYSERDA or the State of New York.

The public comment period will be open through Monday, January 1, 2019.

NY Renews Coalition urges Cuomo to pass Comprehensive Climate Bill in 2019

NY Renews urges Cuomo to pass Climate and Community Protection Act in 2019 after speech embracing carbon neutrality

by NY Renews  |  December 17, 2018

New York, NY — In his “Justice Agenda” speech outlining legislative priorities for 2019, Governor Cuomo talked about moving New York completely off fossil fuels – but now we need a real plan and bold legislative action to get us there.

Governor Cuomo can implement his vision and go further by supporting the passage of the Climate and Community Protection Act (CCPA) in 2019. The NY Renews coalition of 150 plus groups, has advocated for the CCPA since 2015.

While the Governor spoke of a “100% carbon-neutral electricity” target, electricity generation represents approximately 20% of our state’s emissions profile and New York needs more comprehensive action to face up to the urgency of the climate crisis. The CCPA would put New York on the path to 100% renewable energy – not just in electricity generation, but economy-wide – while mandating fair labor standards for green jobs and targeting investments in low-income communities and communities of color.

The CCPA has passed the Assembly for the past three years; Assembly Speaker Heastie and Senate Majority Leader Stewart-Cousins have both recently reaffirmed their support, with additional support from incoming Environmental Conservation Committee Chair Senator Todd Kaminsky and many newly-elected Senators.

We look forward to working with the Governor and the legislature to see that the Climate and Community Protection Act becomes law in 2019.

Pending Climate Bill could Transform NY Energy Market

Could New York go carbon free by 2050?

The Climate and Community Protection Act could transform New York’s energy market.

By Susan Arbetter | December 12, 2018 |  Excerpt

The Climate and Community Protection Act, sponsored by state Sen. Brad Hoylman and Assemblyman Steve Englebright, is an expansive bill that requires New York state to generate 50 percent of its electricity from renewable energy by 2030. By 2050, the bill would require the elimination of all greenhouse gas emissions.

The bill is process-oriented. Baked into the plan is a climate action playbook that proponents say will guide the state from its current level of fossil fuel use down to zero.

For workers who may be displaced by the proposed transition to renewables, the bill includes prevailing wage standards and addresses the needs of environmental justice communities where many fossil fuel plants are currently located. The bill is, in one activist’s words, “a B-12 shot for the state’s renewables.”

Currently, New York only uses 3 percent wind energy and less than 1 percent from solar energy. “This is the most important issue on Earth,” said Englebright, who chairs the Assembly Committee on Environmental Conservation. “States now have to pick up the slack that has been created by the inaction of the federal government.”

State Sen. Todd Kaminsky, who was recently tapped to chair the state Senate’s Environmental Conservation Committee starting in January, agreed. “There is no doubt we need to take aggressive steps to address climate change,” he said. “This bill will be the central vehicle by which we will accomplish that.”

Peter Iwanowicz, executive director of Environmental Advocates of New York, said the state needs a strong foundation for setting its clean energy goals in law. “Right now the goals don’t exist in law,” he said. “They are at the whim of the executive.”

Young Activist Condemns World's Inaction on Climate Change at U.N. Summit

Greta Thunberg, a 15 year-old high school student from Sweden, realized at a young age the difference in what climate experts were saying needed to be done and the actions that were being taken in society.

She decided to take matters into her own hands.

With focus and poise beyond her years, Greta spoke truth to power in an audience of adults including U.N. officials and world government representatives at the recent Climate Summit (COP 24) in Poland. She cited inaction on climate change as a burden that adults are leaving on their children:

You say you love your children above all else, and yet you're stealing their future in front of their very eyes. Until you start focusing on what needs to be done, rather than its what is politically possible, there is no hope. 

Watch a short video of Greta's powerful and moving speech at the U.N. Climate Summit below:

On Hope: 
Elsewhere, in a TEDx Talk, Greta said, "Yes, we do need hope, of course we do. But the one thing we need more than hope is action. Once we start to act, hope is everywhere."

School Strike for the Climate:
The U.N. Summit speech was not Greta’s first climate action. Earlier this year, Greta demanded that her government in Sweden undertake a radical response to climate change. She protested for more than a month in Stockholm, sitting on the steps of the parliament building, every day during school hours for three weeks. She has returned to school for four days a week; she now spends her Fridays on the steps of parliament.  Read more about Greta and what makes her special in The New Yorker

New National Climate Assessment of impacts, costs and risks starkly contrasts with Trump Administration's fossil fuel agenda

But Who will Protect the People of the United States?

Climate Change Puts U.S. Economy and Lives at Risk, and Costs Are Rising, Federal Agencies Warn    
The National Climate Assessment describes increasing heat, fire and flood damage. It's a stark contrast to Trump's energy policies and climate claims. 
Inside Climate News - 11.23.2018: click here

Unable to Bury Climate Report, Trump & Deniers Launch Assault on the Science

Evidence and warnings in the National Climate Assessment are a high-stakes problem for Trump's fossil fuel-friendly agenda, both in politics and in court. 
Inside Climate News - 11.30.2018: click here

Progressive congressional lawmakers seek a 'Green New Deal' to mitigate climate change, protect health and create jobs

                                                                                                                        ji sub jeong/huffpost

Alexandria Ocasio-Cortez, diverse lawmakers prioritize climate change with 'Green New Deal'
'Our lives are on the line,' says Rep.-elect Alexandria Ocasio-Cortez regarding climate change.
NBC News - 11.30.2018: click here
 

CLIMATE: Sanders plots Green New Deal-style bill

Senate bill would include a transition to 100 percent renewable energy and big investments in clean energy technology and green infrastructure.

E&E News - 12.03.2018: click here

CLIMATE CHANGE - Who will Protect the People of the U.S.?

Ocasio-Cortez and progressive Dems' Green New Deal gains traction as Trump shrugs off dire warnings from climate scientists
While President Trump attributes his climate change skepticism to his “very high levels of intelligence,” a growing legion of lawmakers and young activists are taking heed of dire warnings being issued by experts and scientists about the catastrophic consequences of inaction.
 
Progressives, led by New York City’s own Alexandria Ocasio-Cortez, are joining forces behind an ambitious plan to wean the U.S. off fossil fuels, boost renewable energy jobs and build a “smart” power grid.
 
The major push to make climate change a priority when Congress convenes in January got off to a high-profile start weeks ago when Ocasio-Cortez applauded young activists from the environmental advocacy group Sunrise Movement protesting at soon-to-be-House Speaker Nancy Pelosi’s office on Capitol Hill.  

A damning federal government report about the economic and societal impacts of climate change released last week, which Trump openly dismissed, has only emboldened believers steeling for a showdown with mainline Democrats and added weight to their calls for a so-called “Green New Deal.”
NY Daily News - 12.02.2018: To read more, click here



VIDEO:  Solving Our Climate Crisis - A National Town Hall
U.S. Senator Bernie Sanders, Rep.-elect Alexandria Ocasio-Cortez, environmental author & 350.org founder Bill McKibben, CNN commentator Van Jones, Union of Concerned Scientists Dr. Brenda Ekwurzel and climate activists
Now This - 12.03.2018: To view the video, click here