We are bringing the fight straight to the fossil fuel industry. We’ve committed to be the first major US city to divest its pension funds from fossil fuels, and have filed suit against the five largest fossil fuel companies to protect New Yorkers against the impacts of climate change.
In September 2017, NYC became the first city to release a climate action plan aligned with the Paris Agreement. The 1.5C° plan lays out aggressive actions to reduce energy consumption, increase efficiency, accelerate the transition to clean energy, and pursue carbon neutrality in NYC, while prioritizing climate solutions that address economic and social inequities.
"Burning fossil fuels is the single largest contributor to human-caused climate change. Those most responsible for the damage done to our planet have denied and buried this fact despite knowing it for decades. After a decades-long pattern of deception and denial by fossil fuel companies, New York City is holding them to account. By seeking damages for the investments necessary to protect New Yorkers from the impacts of climate change, and divesting our pension funds from fossil fuel reserves, we are taking the largest action by any city to confront the growing climate crisis and adding to NYC’s continued leadership on sustainability and resiliency.” -Daniel A. Zarrilli, Senior Director, Climate Policy and Programs
The NYC Mayor’s Office Climate Policy and Programs team – comprised of the Office of Sustainability; the Office of Recovery and Resiliency; and the Office of Environmental Coordination – leads New York City’s fight against climate change and manages the #OneNYC program. In the last four years, New York City has committed to an 80 percent reduction in greenhouse gases by 2050 and was the first city to align itself with the 1.5 Celsius target of the Paris Agreement. Greenhouse gas emissions are down 15 percent since 2005 and we will take this further with mandatory retrofits to city buildings and by expanding low-carbon transportation options. At the same time, we are investing over $20 billion to adapt our neighborhoods to climate change risks such as flooding, heat, and sea level rise. And we are taking the fight straight to the fossil fuel industry for their role in creating this climate crisis by divesting the City’s pension funds from fossil fuels and suing the five investor-owned fossil fuel companies most responsible for climate change.
Cities Leading on Climate: How Fossil Fuel Divestment Protects Pensions and the Planet