25 signatures reached
To: Ulster County Legislature
Divest Ulster County and all of New York from Fossil Fuels
We call on Ulster County to pass a resolution urging New York State Comptroller and New York State Legislature to:
1. Immediately freeze any new investments in fossil fuels.
2. Divest from direct ownership and any commingled funds that include fossil fuel public equities and corporate bonds within 5 years.
3. Make a concerted effort to fully invest in clean technology and green energy production, retrofitting and infrastructure, which helps the environment, people and the economy.
We further call on the Ulster County Legislature to urge the Office of the Comptroller to prepare a report and options for investing the pension fund in a way that further maximizes the positive impact of the fund by seeking out investment in opportunities to limit the effects of burning fossil fuels or to help to mitigate the effects including, but not limited to, clean technology & renewable energy sustainable companies or projects and sustainable communities. We particularly urge that policies be put in place that support local projects and local jobs within our community, and, request the timeline for implementing the findings of said report in a manner consistent with the Office of the Comptroller’s fiduciary duty.
Why is this important?
Over the past 5 years, diverse NYS citizens and stakeholders have expressed strong, informed opposition to hydro-fracking. Hydro-fracking is a form of extreme energy production which causes significant, irreversible harm. Simultaneously, citizens and stakeholders have called for rapid, full investment in and transition to truly green, renewable energy sources. We are extremely concerned about climate disruption (which is already negatively impacting NYS) and the future of all species on this fragile planet.
The NYS Comptroller is responsible for administering the New York State and Local Retirement System (the Common Retirement Fund) for public employees. This System has more than one million members, retirees and beneficiaries and more than 3,000 employers; The NYS Comptroller acts as the sole trustee of the $176 billion Common Retirement Fund. NYS is one of the largest institutional investors in the world.
"The State Comptroller is responsible for ensuring that the pensioners’ money is being used effectively and efficiently to promote the common good."
We formally request that no pension dollars held within the Comptroller's Office promote climate disruption, environmental degradation and suffering.
We request that our pension dollars directly "promote the common good."
We ask for complete, rapid divestment from all fossil fuels.
Divesting now will immediately bring positive change.