New York state considers cutting ties with major oil companies

New York State is on the brink of divesting over $1 billion from major oil companies, marking a significant move in fossil fuel divestment.

Nicholas Kusnetz reports for Inside Climate News.

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.

Key quote:

"The idea that over a decade into this fight we’re having an argument, in an overwhelmingly Democratic state, over whether Exxon or Shell or Chevron are doing a good job on climate is sort of baffling."

— Mark Dunlea, chair of the Green Education and Legal Fund

Why this matters:

New York's potential divestment from big oil highlights the growing recognition of the financial risks associated with climate change and the role of institutional investors in driving sustainable practices.

Should hospitals be next to divest from fossil fuels?

insideclimatenews.org

New York state considers cutting ties with major oil companies

Climate-resilient housing models slow to gain ground in disaster-prone Bangladesh

The battle over solar on farmland

4 ways Trump is sabotaging climate action around the world

Even low-risk homes are caught up in California’s climate insurance crisis

Iran war should trigger faster exit from fossil fuel dependence, UN climate chief says

'Doomsday Clock' advances to 85 seconds to midnight

The latest front in the battle over climate lawsuits: bills wiping out liability

Multiple Houston-area oil and gas facilities that have violated pollution laws are seeking permit renewals

One facility has emitted cancer-causing chemicals into waterways at levels up to 520% higher than legal limits.

Pennsylvania health advocates say Trump’s first 100 days in office have caused “100 harms” to local communities

“They're terrorizing these scientists because they want to keep them silent.”

Regulators are underestimating health impacts from air pollution: Study

"The reality is, we are not exposed to one chemical at a time.”

Two years into his term, has Gov. Shapiro kept his promises to regulate Pennsylvania’s fracking industry?

A new report assesses the administration’s progress and makes new recommendations

An open letter from EPA staff to the American public

“We cannot stand by and allow this to happen. We need to hold this administration accountable.”

New evidence links heavy metal pollution with wildfire retardants

“The chemical black box” that blankets wildfire-impacted areas is increasingly under scrutiny.