New York City Mayor Bill de Blasio and Comptroller Scott Stringer announced on Monday that two of the cities pension funds will divest completely from any securities “related to fossil fuel companies”. The city expects its total divestment to be around $4 billion—likely one of the largest divestments in the world. The purpose of the divestment is to “address the significant financial and environmental risks that these fossil fuel holdings post to the funds and to our planet.” Investing in fossil fuels isn’t just bad for the planet, it’s a bad investment, de Blasio shared in a press release. ““Our first-in-the-nation divestment is literally putting money where our mouth is when it comes to climate change. Divestment is a bold investment in our children and grandchildren, and our planet. I applaud the trustees, advocates and experts for their hard work, and I look forward to seeing more cities around […]