Could New York’s Youth Finally Convince the State to Divest Its Pension of Fossil Fuels?

One analyst says oil, gas and coal were the biggest pension contributors for 30 years, but now are the worst performing sector—and there are no signs of improvement.

Youth climate strikers gather at New York City's Foley Square on Sept. 20, 2019, to participate in what's believed to be the largest global climate protest ever organized. Credit: Kristoffer Tigue/InsideClimate News

Despite never having heard of a pension plan before this year, 18-year-old Natalie Penna finds herself discussing New York state's retirement fund, and its role in financing the fossil fuel industry, quite a lot lately.

"We're investing in these things that will temporarily benefit the people who are making money off it in their pensions, but what's left for us afterwards?" she said. "What's the world going to look like for us?"

Penna, who typically spends her free time running on the track behind her school or carefully mixing oil paints to splatter on a canvas, has found a new passion in lecturing lawmakers on the dangers of investing in fossil fuels. The Albany High School senior is one of hundreds of youth from across New York now urging state legislators and other officials to divest the nation's third largest pension system of its fossil fuel holdings, arguing that failing to do so ignores the reality of climate change and goes against the state's mandated emissions reduction targets.

Read More At Inside Climate News

enafarzh-CNzh-TWdanltlfifrdeiwhihuiditjakomsnofaplptruesswsvthtrukurvi

follow InnerSelf on

facebook-icontwitter-iconrss-icon

 Get The Latest By Email

{emailcloak=off}

LATEST VIDEOS

Talking About Energy Change Could Break The Climate impasse
Talking About Energy Change Could Break The Climate Impasse
by InnerSelf Staff
Everyone has energy stories, whether they’re about a relative working on an oil rig, a parent teaching a child to turn…
Crops Could Face Double Trouble From Insects And A Warming Climate
Crops Could Face Double Trouble From Insects And A Warming Climate
by Gregg Howe and Nathan Havko
For millennia, insects and the plants they feed on have been engaged in a co-evolutionary battle: to eat or not be…
To Reach Zero Emissions Government Must Address Hurdles Putting People Off Electric Cars
To Reach Zero Emissions Government Must Address Hurdles Putting People Off Electric Cars
by Swapnesh Masrani
Ambitious targets have been set by the UK and Scottish governments to become net-zero carbon economies by 2050 and 2045…
Spring Is Arriving Earlier Across The US, And That's Not Always Good News
Spring Is Arriving Earlier Across The US, And That's Not Always Good News
by Theresa Crimmins
Across much of the United States, a warming climate has advanced the arrival of spring. This year is no exception.
The Last Ice Age Tells Us Why We Need To Care About A 2℃ Change In Temperature
The Last Ice Age Tells Us Why We Need To Care About A 2℃ Change In Temperature
by Alan N Williams, et al
The latest report from the Intergovernmental Panel on Climate Change (IPCC) states that without a substantial decrease…
A Georgia Town Gets Half Of Its Electricity From President Jimmy Carter's Solar Farm
A Georgia Town Gets Half Of Its Electricity From President Jimmy Carter's Solar Farm
by Johnna Crider
Plains, Georgia, is a small town that is just south of Columbus, Macon, and Atlanta and north of Albany. It is the…
Majority of US Adults Believe Climate Change Is Most Important Issue Today
by American Psychological Association
As the effects of climate change become more evident, more than half of U.S. adults (56%) say climate change is the…
How These Three Financial Firms Could Change The Direction Of The Climate Crisis
How These Three Financial Firms Could Change The Direction Of The Climate Crisis
by Mangulina Jan Fichtner, et al
A silent revolution is happening in investing. It is a paradigm shift that will have a profound impact on corporations,…

LATEST ARTICLES

Fossil Fuels Are Heading Down, But Not Yet Out
Fossil Fuels Are Heading Down, But Not Yet Out
by Kieran Cooke
Renewable energy is making rapid inroads into the market, but fossil fuels still wield enormous global influence.
Human Action Will Decide How Much Sea Levels Rise
Human Action Will Decide How Much Sea Levels Rise
by Tim Radford
Sea levels will go on rising, because of human action. By how much, though, depends on what humans do next.
Global Warming Now Pushing Heat Into Territory Humans Cannot Tolerate
Global Warming Now Pushing Heat Into Territory Humans Cannot Tolerate
by Tom Matthews and Colin Raymond
The explosive growth and success of human society over the past 10,000 years has been underpinned by a distinct range…
What Is Climate Sensitivity?
What Is Climate Sensitivity?
by Robert Colman and Karl Braganza
Humans are emitting CO2 and other greenhouse gases into the atmosphere. As these gases build up they trap extra heat…
There Are No Time-travelling Climatologists: Why We Use Climate Models
There Are No Time-travelling Climatologists: Why We Use Climate Models
by Sophie Lewis and Sarah Perkins-Kirkpatrick
The first climate models were built on fundamental laws of physics and chemistry and designed to study the climate…
Just How Hot Will It Get This Century? What The Latest Climate Models Suggest
Just How Hot Will It Get This Century? What The Latest Climate Models Suggest
by Michael Grose and Julie Arblaster
Climate scientists use mathematical models to project the Earth’s future under a warming world, but a group of the…
Natural Forests Are Best At Storing Carbon
Natural Forests Are Best At Storing Carbon
by Tim Radford
Natural forests are a global good. Well conserved, they help combat climate change. But as new research confirms, it’s…
What Caused Major Climate Change In The Past?
This Is What Caused Major Climate Change In The Past
by James Renwick
Earth had several periods of high carbon dioxide levels in the atmosphere and high temperatures over the last several…