New York Considers Coal Divestment From Pension Funds

Jan 30, 2020

New York Comptroller Thomas DiNapoli will review 27 thermal coal mining companies to see if the state should divest its pension fund from businesses that contribute to climate change.

DiNapoli says the companies face the greatest risk as states turn to cleaner, renewable energies. He has called coal mining a “bad investment” for New York.

The companies were selected because at least 10% of their revenue is from mining coal that is burned in power plants to produce electricity. 

DiNapoli has asked the companies to demonstrate they are ready to transition to reduce carbon emissions, improve climate reporting and support green technologies in the future.