New York City is seeking to lead the assault on climate change and the Trump administration with a plan to divest $5bn from fossil fuels and sue the world’s New York City is planning to divest its $ 189bn pension funds from fossil fuels within five years , while also suing leading firms BP , Shell , Chevron , Exxon and Shell over damage, such as erosion and flooding, caused by climate change. The city’s five pension funds have an estimated $5bn invested in fossil fuels, making this move, the first by a major US city, one of the largest ever divestments. As we reported previously, a city and 37 counties in California are currently suing five fossil fuel companies, including Shell , over greenhouse gas emissions.
New York City is planning to divest its $ 189bn pension funds from fossil fuels within five years , while also suing leading firms BP , Shell , Chevron , Exxon and Shell over damage, such as erosion and flooding, caused by climate change. The city’s five pension funds have an estimated $5bn invested in fossil fuels, making this move, the first by a major US city, one of the largest ever divestments. As we reported previously, a city and 37 counties in California are currently suing five fossil fuel companies, including Shell , over greenhouse gas emissions.