Save our planet! Save our pension!
Sign the petition to divest the New York teachers' pension fund from coal, oil and gas
The New York State Teachers' Retirement System (NYSTRS)* has an estimated $4.5 billion** invested in climate destroying fossil fuels with over $500,000,000 invested in Exxon Mobil alone. We call on NYSTRS to stop funding climate destruction and divest its funds from all fossil fuels. Continued investments in coal, oil and gas put our climate and the financial stability of our retirement fund at risk.
Divest NY Calls on Legislative Leaders to Pass Teachers Fossil Fuel Divestment Act
June 7 2021 - Divest NY delivered a letter to New York State Legislative Leaders today signed by over 120 climate, youth, community and faith organizations calling on them to bring the bill to the floor for a vote. See the letter here.
May 25 - Divest NY released a report today that shows that NYSTRS has over $300 million invested in companies with substantial coal reserves. They increased their investments by more than 62 million shares.
Divest NY delivers petitions to NYSTRS board
April 28, 2021: Divest NY delivers signatures from teachers students and community members to the NYSTRS board during their quarterly board meeting calling on NYSTRS to divest from all fossil fuels. More info here.
Divest NY launches campaign to pass
the teachers' fossil fuel divestment act
Thanks to Senator Brisport and Assemblymember Kelles for sponsoring the Teachers' Fossil Fuel Divestment Act S4783 / A6331 to protect teachers' retirement fund and help protect the future of the planet for the next generation. See our press release here.
BIG NEWS - DiNapoli announces
NYS retirement fund to divest!
Comptroller DiNapoli announced on December 9th that the NYS Common Retirement Fund will divest and become carbon free by 2040. NYSTRS continues to invest billions in fossil fuels that destroy our planet and our pension. More information about DiNapoli's announcement here.
Watch our Divest NYSTRS Webinar
Don't Let Fossil Fuels Burn Up Our Pension, aired in November, 2020. It features youth climate leaders Hridesh Singh and Erin Zipman, climate activist Bill McKibben, newly elected state senator Jabari Brisport, capital district teacher Lauren Kirkwood and and Bard professor Kathy Hipple.
Why teachers should care
We have a responsibility to our students and to the future. Already superstorms, fire storms, crop destruction, and climate refugees are dramatically changing our world. Our students will have to live in the world we have created. The pension fund is for our future. Let's use it to create a sustainable future for our retirement and for our students.
* NYSTRS had $122.5 billion in assets at the end of 2019 with nearly 264,000 active members and over 169,000 retirees and beneficiaries. NYSTRS members are all full-time teachers, teaching assistants, guidance counselors and administrators employed in New York public schools (excluding New York City), BOCES, and eligible charter schools. Part-time teachers and teachers in New York State community colleges or SUNY may join.
** NYSTRS's investments in fossil fuels were estimated at $4.5 billion last spring before the pandemic. Their investments in coal increased in the fourth quarter of 2020 to over $300 million. The pandemic and worldwide efforts to reduce carbon emissions are causing the fossil fuel market to tank. Fracking companies are declaring bankruptcy in record numbers and Exxon Mobil is expected to lose more than $1 billion this year, compared with profits of $46 billion in 2008.