New York State is on the brink of divesting over $1 billion from major oil companies, marking a significant move in fossil fuel divestment. In short:New York State Comptroller Thomas DiNapoli is reviewing the state's pension fund investments in big oil companies like Exxon and Chevron. The state's pension fund, one of the largest in the U.S., has already limited investments in coal firms and smaller oil companies. This decision could set a precedent for other large institutions in addressing climate change through financial strategies. Should hospitals be next to divest from fossil fuels?

Source: The Guardian February 14, 2024 13:09 UTC