Dear Friends,
Today we have news of a mighty win: one of the planet’s central cities has gone fully on the attack against the fossil fuel industry, which means the tide is finally turning in the climate fight.
Just an hour ago we stood with New York Mayor Bill de Blasio as he made two major announcements: New York's pension funds will divest from the big oil and gas companies, and the city is suing the biggest of these corporations for the climate damage they've caused.
This is a huge moment in our fight to stop climate change. A city as iconic as New York could trigger a wave of action against the fossil fuel industry from other powerful cities and states around the U.S. and globally. For that to happen, we need each and every one of us to continue to demand change.
When we dreamed up the idea of fossil fuel divestment in 2012 we thought: some colleges and churches will do this. We didn’t dare dream that half a decade later the richest city in the world would be leading the charge. As one of the financial centers of the world, New York sends a powerful message about the fiscal folly of fossil fuels.
And not only is New York City divesting, it is also taking those most responsible to court. Fossil fuel companies – and their lies and lobbyists – are to blame for the climate crisis we're in and it's high time they're held to account.
It also shows us what is possible when we step up and fight back. New Yorkers, still reeling from Superstorm Sandy, fought long and hard for this win. Now we need more people to take up this fight in their communities. There’s no excuse for any city or state, any province or region, any pension fund or portfolio, to be in business with this industry.
The time has come,
Bill
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