After calling on New York State to pull back investments in fossil fuels in 2019, Syracuse Mayor Ben Walsh and Fifth District Common Councilor Joe Driscoll are applauding Comptroller Thomas DiNapoli’s announcement today that the New York State Common Retirement Fund has adopted a goal to transition its $226 billion portfolio to net zero greenhouse gas emissions by 2040.
“This is a smart investment move for New York State and the right action to address the growing impact of climate change,” said Mayor Walsh, who sent a letter to the Syracuse state legislative delegation supporting divestment in 2019. “I thank Comptroller DiNapoli for taking this bold action. There is no doubt that the effects of climate change are worsening, so investing in the fossil fuel industry just doesn’t make financial sense. The decision also sends a clear message regarding the need for action on climate change.”
“For too long we’ve bought into a false dichotomy, of having to choose between economic growth or a healthy planet,” said Councilor Driscoll. “The truth is that renewable energy and prosperity are not only not mutually exclusive, they are in fact aligned. We need to have the vision and political will to create a better tomorrow.”
In April 2019, Councilor Driscoll and seven members of the Common Council signed a joint letter supporting the New York Fossil Fuel Divestment Act. Other current councilors signing the Council letter were President Helen Hudson, President Pro Tempore Khalid Bey, Councilor-at-large Michael Greene and Fourth District Councilor Latoya Allen.