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.
Save our planet! Save our pension!
Sign the petition to divest the 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.
Watch our Divest NYSTRS Webinar
Our webinar, Don't Let Fossil Fuels Burn Up Our Pension, which aired on November 12, 2020 features youth climate leaders Hridesh Singh and Erin Zipman from NY2CL, climate activist Bill McKibben, teacher and newly elected state senator Jabari Brisport, Lauren Kirkwood a teacher in the capital district, and financial expert 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. 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.