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SCOTUS skeptical that state abortion bans conflict with federal health care law; Iowa advocates for immigrants push back on Texas-style deportation bill; new hearings, same arguments on both sides for ND pipeline project; clean-air activists to hold "die-in" Friday at LA City Hall.

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"Squad" member Summer Lee wins her primary with a pro-peace platform, Biden signs huge foreign aid bills including support for Ukraine and Israel, and the Arizona House repeals an abortion ban as California moves to welcome Arizona doctors.

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The urban-rural death divide is widening for working-age Americans, many home internet connections established for rural students during COVID have been broken, and a new federal rule aims to put the "public" back in public lands.

NYC Unions Get Update on Fossil-Fuel Divestment

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Monday, October 17, 2016   

NEW YORK – New York City's public employee unions are considering a push to remove pension fund investments from fossil-fuel industries.

The five pension funds in question total around $170 billion, with more than $7 billion invested in fossil fuels. In 2015, Mayor Bill de Blasio proposed taking pension fund dollars out of coal and studying the climate impact of other investments.

According to Marc Dunlea, a steering committee member for the group 350NYC, since the divestment movement began less than four years ago, investors around the world have withdrawn about $5 trillion from those industries.

"But we don't have that many governments doing it so far,” Dunlea said. “And it would be really great to see New York City take the lead, especially since New York City is one of the cities most at risk to climate change."

Union leaders and members got an update Saturday on an in-process evaluation of the pension funds' carbon footprint. That study is expected to be completed in early 2017.

Dunlea said divestment was first raised as a moral issue, as some felt the city shouldn't invest in industries that put it at risk of rising sea levels. But it turned out to be sound investment advice on a purely financial level as well.

"If they had divested when we asked three-and-a-half years ago and invested the money in other parts of the stock market,” he said, "we'd have about $5 billion more than we presently have."

And the value loss in the fossil-fuel industry has accelerated since the Paris climate agreement, when nations around the globe agreed to keep global temperatures from rising more than 1.5 degrees Celsius in this century, Dunlea said.

"The world has said we have to stop using fossil fuels as rapidly as we possibly can,” he said. "And if you are investing in fossil fuels, you do not have a future economic viability plan."

"350" is a grassroots network of campaigns to curb climate change. On Monday, 350 International will relaunch its efforts to promote divestment from fossil fuels, making divestment in New York City and State priorities for the coming year.



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