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New York City's pension funds are poised to expand their fossil fuel divestment strategy by prohibiting future investments in midstream and downstream fossil fuel infrastructure, following a recent court victory. Comptroller Brad Lander emphasized the financial risks posed by climate change, advocating for this policy to protect beneficiaries and mitigate systemic risks. The trustees are set to vote on the new policy in 2025 after assessing its implications.
Melanie Kruvelis
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new york city pension funds consider broader fossil fuel divestment policy
United States Dollar
JPMorgan Chase & Co.
Royal Bank of Canada
Citigroup Inc.
USA
Melanie Kruvelis
Brad Lander
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23:07 22.10.2024
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